Welcome to the AS USA 2023 COLA increase updates
Hello and welcome to AS USA’s live blog on the 2023 Social Security COLA increase for Sunday 16 October.
The Social security administration announced the 2023 cost-of-living adjustment (COLA) for Social Security benefits, for programs that Supplementary income and social security disability benefit. Other state pension and benefit schemes will also be affected by the increase of 8.7%.
The COLA offered for next year is historically in size after inflation has plagued markets for basic goods consumed by most households, incl food, shelter, tools and petrol.