Social security beneficiaries can thank the soaring 2022 inflation rate for their bigger payments this year. Projection for combined trust funds one year sooner than last year.
That’s less than half of the previous year’s cola increase. How much is the increase:
Stubbornly High Living Costs Could Lead To A Decent Raise For Seniors.
Projection for combined trust funds one year sooner than last year.
The Cola Was 8.7% In 2023, Which Was The Largest In 40 Years.
A cola of 3.0% would raise the current average.
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The Latest Cola Is 3.2 Percent For Social Security Benefits And Ssi Payments.
A cola of 3.0% would raise the current average.
What You Need To Know.
Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024.