# Ssi benefits
Social Security benefits to increase in 2023
Benefits will increase by more than $140 per month starting in January. Americans who receive Social Security benefits and Supplemental Security Income (SSI) will see an 8.7% increase in payments next year. According to SSA.GOV, more than 70 million Americans will benefit from the rise, which is expected to be more than $140 a month starting in January.
Social Security Beneficiaries Can Look Forward to Receiving 8.7 Percent COLA Increase In January
Photo courtesy of Foxtrending.com/Social SecurityFoxtrending.com. Millions of Social Security recipients will get an 8.7% boost in their benefits in 2023. The historic increase was announced this morning. The news was a pleasant announcement for American retirees and others, but it’s tempered by the fact that it’s fueled by high inflation that’s raised the cost of everyday living for all Americans.
Could a Large Social Security COLA Increase Put Retirees in a Higher Tax Bracket?
Photo Courtesy of Fox Business/Social SecurityFox Business. Counting down to Social Security COLA: Taking time to add up the costs is essential. Everyone knows receiving more money in your check is always a positive thing. Especially if you are retired and living on a monthly fixed income. Anytime you have to pay more money for groceries, receiving news of additional income is welcoming.
Social Security Benefits Could See The Largest Increase Since 1981
Photo courtesy of Fox Business/Social SecurityFox Business. Social Security is getting ready to announce the Cost Of Living Increase in October. Each year, usually in October, the Social Security Administration announces the cost-of-living adjustment (COLA) increase for the following year. With the Consumer Price Index (CPI) for September 2022 set to be released on Oct. 13, the COLA should be announced around that same time.
Social Security Beneficiaries Will Receive Two Checks in September
Photo Courtesy of Fox Business/Social SecurityFox Business. Some critics said Social Security Beneficiaries should not get excited about the additional check in September. Imagine you contributed to the United States economy by working for over 30 plus years. Now you have retired, and you are eligible to receive Social Security Benefits, it is not enough for you to eat and pay your bills. This is the shocking reality for a lot of senior citizens, disabled, blind, and elderly community.