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Social Security Benefits to Jump by 8 7% Next Year for US Retirees
Posted
October 13, 2022
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0:20Now PlayingSocial Security benefits will increase 8.7% in 2023, helping retirees weather surging inflation that shows few signs of slowing down.
It’s the biggest cost-of-living increase since 1981, when there was an 11.3% bump in monthly benefits. On average, Social Security checks will rise by more than $140 a month starting in January. Roughly 70 million Americans, or about 25% of the US population, are Social Security beneficiaries.
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