COLA Social Security payment schedule 2022 — Record-breaking rise expected for beneficiaries in 2023 — do you qualify?

SOCIAL Security beneficiaries should expect to see a record-breaking boost in their 2023 monthly payments. The Senior Citizens League (SCL) anticipates their expectations for the cost-of-living adjustment (COLA) on a regular basis. According to the organization, the increase may be as high as 8.6 percent by 2023. This would break the previous high of 7.4 percent set in 1981. The average monthly Social Security benefit is $1,657 this year, with a maximum amount of $4,194 per month. With the projected boost, the average benefit would rise to almost $1,804, while the highest benefit would increase to $4,567. Things might change… Read Full Article