Social Security: Pay Dates, Benefits and Medicare: Latest COLA News 2023 | Today, December 26

 The COLA is calculated based on the Consumer Price Index for Urban Salaried Workers and Administrative Workers (CPI-W), spanning from the third quarter of last year to the third quarter of the current year.

According to official figures shared by the SSA, the CPI-W for the third quarter of 2021 was 291,901, while that of 2022 was 268,421. Between one quarter and another there was a difference of 8.7 percent, which is the increase that will be applied to Social Security payments for next year.

Social Security and COLA Payments 2023

In October, the Social Security Administration (SSA) announced increased monthly payments for retired workers, Supplemental Security Income (SSI) recipients, and those receiving disability and survivor benefits.

SIMILAR STORY: Family dies in fatal pre-Christmas accident in Zacatecas; A drunken soldier could be the cause

Benefits increase based on the cost-of-living adjustment (COLA), which is calculated each year so as not to affect beneficiaries' purchasing power.

Welcome to the live on the latest news and developments of Social Security benefits this December 26. We'll share important information about the cost-of-living adjustment (COLA) increase for 2023, what the amount of insurance payments will be next year, payment dates, Medicare details, and more.



Post a Comment

Previous Post Next Post