A Very Big Change Is Coming to Social Security in 2023 -- and It Will Impact You Even if You Aren't Getting Benefits
Although Social Security has been around for quite some time, the program's rules have a tendency to evolve. In fact, each year, Social Security generally undergoes a number of changes based on inflation.
Next year, for example, seniors on Social Security will be getting an 8.7% cost-of-living adjustment (COLA). That's the largest raise to come through in decades, and it's based on soaring inflation that hammered consumers during 2022's third quarter.
Next year, workers who claim Social Security before full retirement age will also be able to earn more money without it affecting their benefits. Given that some beneficiaries may have returned to a job in some capacity to cope with higher living costs, that's a good thing.
Source Fool.com
