Social Security: It's Time to Stop Fixating On Next Year's Increase
What will Social Security's upcoming cost-of-living adjustment (COLA) look like? Will it be 8%? 10%? Somewhere in between?
For months, experts have been trying to guess at next year's COLA using information they've gotten to date from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). That's the index used to determine COLAs.
We won't have a true sense of what 2023's Social Security raise amounts to until we get September CPI-W numbers. That's because the Social Security Administration uses third-quarter data from that index to calculate COLAs.
Source Fool.com
