
COLA Social Security Payment Plan 2022 – Americans Can Get Extra $ 336 a Month in 2023 – See If You Are Qualified
SOCIAL SECURITY SERVICES for Americans may increase by $ 336 per month by 2023.
Benefits from social security are calculated annually using a adjustment of cost of living (COLA).
The Consumer Price Index for Employees and Urban Offices (CPI-W) in the third quarter determines where the COLA ends.
COLA for services can be as high as 8 percent in 2023, per AARP.
That average monthly payment would increase by about $ 133 to $ 1,790 if COLA is 8 percent while maximum can rise from around $ 336 to over $ 4,530.
Every year, the SSA usually confirms COLA in October, and it takes effect in January.
Read our COLA 2022 increase live blog for the latest news and updates …