COLA Social Security payment schedule 2022 – Millions may see HUGE 2023 COLA increase – see how much you can get

MILLIONS of Social Security recipients could see a huge rise in their payments in 2023. Next year’s cost-of-living-adjustment is projected to be higher than the 5.9 percent for 2022 as a consequence of the spiraling Consumer Price Index (CPI), which increased to as high as 8.5 percent for the 12-month period ending March 2022, the highest rise since the period ending December 1981. Part of the rise in the CPI can be attributed to Russia’s invasion of Ukraine, but it also has to do with the federal government’s large-scale spending during the Covid-19 pandemic. According to the Senior Citizens League,… Read Full Article