Social Security Announces Biggest Payment Boost in 40 Years: Here’s When You’ll Get It

Blank U.S. Treasury checks run through a printer at the U.S. Treasury facility in Philadelphia, Pa. Leaders in Washington must reach a deal to raise the borrowing limit by Aug. 2, or the nation may not be able to pay its bills, according to the U.S. Treasury. (William Thomas Cain/Getty Images)

Social Security benefits will increase by 8.7 percent in 2023, the biggest boost in 40 years, the Social Security Administration announced on Oct. 13.

The cost-of-living (COLA) adjustment will bolster retirees’ monthly payments by an average of more than $140 per month.

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I’m an American disabled combat vet exiled in the UK & a free speech absolutist. I’m also a 3x top writer.

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A Grain of Salt

A Grain of Salt

I’m an American disabled combat vet exiled in the UK & a free speech absolutist. I’m also a 3x top writer.