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An official at the Social Security Administration estimated in June that the 2023 COLA would likely be around 8%, Money added, while the Senior Citizens League’s latest COLA estimate is 8.6%.
An 8.7% increase in the 2023 COLA would translate into an average monthly increase of $144.10, CBS News reported. This would boost the typical benefit to $1,802 a month from $1,658 in 2022. The ...
Social Security COLA in Action The average monthly benefit a senior receives, as of September 2023, is $1,793, which means they would see a monthly rise of around $57, from $1,793 to $1,850 per month.
Recently, the nonpartisan Senior Citizens League projected a 2.6% Social Security COLA for 2025. That number could, of course, change as inflation data comes in. But even once we have inflation ...
The group’s latest COLA estimate is well below earlier estimates this year — estimates that projected a Social Security increase as high as 10.5% in 2023. However, even an increase of 8.7% ...
The group’s latest COLA estimate is well below earlier estimates this year — estimates that projected a Social Security increase as high as 10.5% in 2023. However, even an increase of 8.7% ...
If inflation runs “hot” — or higher than the recent average — the 2023 COLA could be 11.4%, said Mary Johnson, the Senior Citizens League’s Social Security and Medicare policy analyst.
See: 2023 Social Security COLA Estimate Dips Slightly After April CPI Report but Still Sees Highest Adjustment in 41 Years Find: Following Latest CPI Data, Seniors Group Stands Firm With 2023 ...
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