Social Security 8.7% COLA: When Will You Receive Your Checks?
The Social Security Administration (SSA) made a major announcement recently, revealing that the cost-of-living adjustment (COLA) for 2023 will be 8.7%.
This means that those receiving Social Security benefits or Supplemental Security Income (SSI) will receive an 8.7% boost in benefits in an attempt to help Social Security keep pace with rising inflation.
But when, exactly, will you start receiving these extra benefits? And how do you know whether you're eligible or what your new benefit amount will look like? Here's everything you need to know about next year's COLA.
Source Fool.com