What to know as Social Security's record 8.7% COLA goes into effect

What to know as Social Security’s record 8.7% COLA goes into effect

Catherine Ziegler | Digital vision | Getty Images As inflation kept prices high in 2022, Social Security recipients can expect a record cost-of-living adjustment in 2023. “Your Social Security benefits will increase by 8.7% in 2023 due to an increase in the cost of living,” the Social Security Administration says in the annual statements it …

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