Social Security recipients could get an 8.6% cost-of-living increase in 2023 as inflation spikes
It looks like there’ll be at least one silver lining to skyrocketing inflation.
Seniors will be getting a nice raise next year.
The roughly 70 million people – retirees, disabled people and others – who rely on Social Security could receive an 8.6% cost-of-living adjustment, or COLA, next year, according to an estimate from Mary Johnson, a policy analyst for the Senior Citizen League, an advocacy group.
For the average retiree who got a monthly check of $1,657 this year, the bump would mean an additional $142.50 a month in 2023, boosting the typical payment to $1,800.
Retiree News 
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