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Monday, October 10, 2022

When will the Social Security Administration announce the COLA increase for 2023?

(NEXSTAR) – The Social Security Administration is getting ready to announce the cost-of-living adjustment (COLA) for Social Security beneficiaries in 2023, and it’s expected to be a sizable increase.

The adjustments, which are designed to help Social Security and Supplemental Security Income (SSI) payments keep pace with inflation, are calculated each year based on recent increases in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which itself is one of several price indexes calculated by the Bureau of Labor Statistics. The CPI-W, essentially, is a measure of the change in prices “for a market basket of consumer goods and services,” the BLS writes.
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11 comments:

  1. rickn8orOctober 10, 2022 at 12:06 PM

    8.7 percent??

    You know the Biden regime will crow about how "they got senior citizens a bigger raise than any recent administration."

    ReplyDelete
  2. Mind your own businessOctober 10, 2022 at 12:48 PM

    Have no fear, the government will lie about the true COL changes in order to reduce their financial payouts. Just like they lie about any measurement that shows how badly the economy is misfiring, how much they are screwing over taxpayers, and how much they are skimming for themselves. It's what they do. And if it gets bad enough, they change how their metrics are measured or defined in order to make it harder to compare over the years.

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  3. Henk VandenberghOctober 10, 2022 at 12:54 PM

    When?
    After the midterms of course so that they can blame republicans for the inflation necessitating this huge COLA.

    ReplyDelete
  4. AnonymousOctober 10, 2022 at 12:58 PM

    My last raise was substantial, and far from making me happy, it scared me nearly to death... because I know for certain they only ever give enough for us destitute people to keep our noses above water IF we are verrrry careful.
    --nines

    ReplyDelete
  5. AnonymousOctober 10, 2022 at 1:12 PM

    If they tracked the % accurately instead of fiddling the numbers it would be more like 25%.

    ReplyDelete
    Replies
    1. AnonymousOctober 11, 2022 at 12:45 AM

      Checked our recent nat gas bill-it is up 28% vs same month last year.

      Delete
  6. StevePOctober 10, 2022 at 1:16 PM

    A few days ago I read that they're also going to reduce Medicare premiums 10% next year. That will mean huge increases in following years.

    ReplyDelete
    Replies
    1. AnonymousOctober 10, 2022 at 1:47 PM

      I wish I could drop medicare altogether! There is no way I'm going to a doctor after what I learned during the scamdemic!

      Delete
  7. boronOctober 10, 2022 at 2:13 PM


    Someone please help me up off the floor; I'm still laughing so hard...

    ReplyDelete
  8. TRIBOctober 10, 2022 at 6:09 PM

    Medicare Part B will increase premiums and Trump's tax cuts expire so there goes any increase with fiat printed money .

    ReplyDelete

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