Social Security Benefits Increase in 2023
Reading Time: 2 MinutesLast Updated: November 2, 2023
Approximately 70 million Americans will see a 8.7% increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2023. On average, Social Security benefits will increase by more than $140 per month starting in January.
Federal benefit rates increase when the cost-of-living rises, as measured by the Department of Labor’s Consumer Price Index (CPI-W). The CPI-W rises when inflation increases, leading to a higher cost-of-living. This change means prices for goods and services, on average, are higher. The cost-of-living adjustment (COLA) helps to offset these costs.
We will mail COLA notices throughout the month of December to retirement, survivors, and disability beneficiaries, SSI recipients, and representative payees. But if you want to know your new benefit amount sooner, you can securely obtain your Social Security COLA notice online using the Message Center in your personal my Social Security account. You can access this information in early December, prior to receiving the mailed notice. Benefit amounts will not be available before December. Since you will receive the COLA notice online or in the mail, you don’t need to contact us to get your new benefit amount.
If you prefer to access your COLA notice online and not receive the mailed notice, you can log in to your personal my Social Security account to opt out by changing your Preferences in the Message Center. You can update your preferences to opt out of the mailed COLA notice, and any other notices that are available online. Did you know you can receive a text or email alert when there is a new message waiting for you? That way, you always know when we have something important for you – like your COLA notice. If you don’t have an account yet, you must create one by November 15, 2022 to receive the 2023 COLA notice online.
“Medicare premiums are going down and Social Security benefits are going up in 2023, which will give seniors more peace of mind and breathing room. This year’s substantial Social Security cost-of-living adjustment is the first time in over a decade that Medicare premiums are not rising and shows that we can provide more support to older Americans who count on the benefits they have earned,” Acting Commissioner Kilolo Kijakazi said.
January 2023 marks when other changes will happen based on the increase in the national average wage index. For example, the maximum amount of earnings subject to Social Security payroll tax in 2023 will be higher. The retirement earnings test exempt amount will also change in 2023.
Be among the first to know! Sign up for or log in to your personal my Social Security account today. Choose email or text under “Message Center Preferences” to receive courtesy notifications.
You can find more information about the 2023 COLA here.
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Tags: COLA, my Social Security, my Social Security account
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Tricia
My question is if we are getting an increase in 2023 will that be starting in January of 2023 and how much would that be cause right now all I’m getting is $841 so how do I know if I qualify for that increase
Ann C.
Hi, Tricia. Thank you for visiting our blog. The 8.7 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 65 million Social Security beneficiaries in January 2023. Increased payments to more than 7 million SSI beneficiaries will begin on December 30, 2022. (Note: some people receive both Social Security and SSI benefits). For your security, we do not have access to private information in this venue. We ask that members in our Blog community work with our offices with specific questions. You can call us at 1-800-772-1213, Monday through Friday, between 8:00 a.m. and 7:00 p.m., for assistance. You can also contact your local Social Security office. We hope this helps.
Amy T.
I am confused by this statement “After we take any other deductions, you will receive
the payment you are due for December 2022 on or about January 3, 2023”
Am I still getting a December payment? Is this just saying the increase will happen in 2023?
Irma
Hi I only got 5% not the 8% percent they said, and I’m receiving it in December does anybody know why?
Jeff
I also am getting an 8.7% increase but at the end of the day I’ll be getting $85 less come 2023 and why it’s crackhead Biden he hast to get the money for his crack So you know what fuck the IRS they’re not getting fucking shit there is no law on the books that says I have to pay federal taxes so fuck you
Mo h.
I also am getting an 8.7% increase but at the end of the day I’ll be getting $85 less come 2023 and why it’s crackhead Biden he hast to get the money for his crack So you know what fuck the IRS they’re not getting fucking shit there is no law on the books that says I have to pay federal taxes so fuck you
Ann C.
Hi, Amy. Thanks for visiting our blog. Keep in mind that Social Security benefits are paid the month after they are due. For example, the payment for December is received in January. We hope this helps.
Lisa P.
I have a question who ever answer this Iread online through SSA website it stated that SSI and SSDI are getting 140 dollars added to their checks for the COLA but when I looked on line mine said $996 my payment before that was 916 so my question is will I get 140 added by January of next year
Sunny
The article says that, “on average,” SS recipients will get an extra $140 per check, due to the 8.7% increase. You won’t get $140, AND the 8.7% increase; your new, $996 is all you’re getting. That’s your 8.7% increase.
Visaghan B.
Thank you SSA, sharing the very helpful and valuable information.
David B.
When can I expect
David B.
WHEN CAN I expect to receive SS Benefits less
Medicare premium for 2023 Report?
Ann C.
Hi, David. It sounds like you are referring to the cost of living adjustment (COLA) notice. Social Security and Supplemental Security Income (SSI) beneficiaries are normally notified by mail starting in early December about their new benefit amount. You can also find out your new benefit amount by accessing your personal my Social Security account to view the COLA notice online. It’s secure, easy, and people find out before the mail arrives. You can also opt to receive a text or email alert when there is a new message from Social Security–such as your COLA notice–waiting for you, rather than receiving a letter in the mail. We hope this helps.
Marc F.
I logged onto my SS account on 11/20 and it already shows my updated cola to be deposited in mid December.
Lashelle S.
I’m receiving ssi for me but my husband passed and now I always receive funds for our son all well what will be the expected increase for my situation
Ann C.
Hi, Lashelle. We are sorry to hear about your loss. For your security, we do not have access to private information in this venue. We ask that members in our Blog community work with our offices with specific questions. You can call us at 1-800-772-1213, Monday through Friday, between 8:00 a.m. and 7:00 p.m., for assistance. You can also contact your local Social Security office. We hope this helps.
Lashelle S.
I’m receiving ssi for me but my husband passed and now I always receive funds for our son all well what will be the expected increase for my situation and when will it change
J S.
Mine also. I can’t find anywhere where it says we are receiving our cola increases in December, instead of January. Spoke to several people that are receiving social security and theirs shows the same. Interesting, whats going to happen…lol
Stacey W.
When I logged in to my SS account it shows my increase an says I will receive it on 12/03/2022 but all I got was my normal payment
Ann C.
Hi, Stacey. Thanks for visiting our blog and for your concern. For more information, please visit here. Thanks, again.
Ann C.
Hi. Thanks for visiting our blog and for your concern. For more information, please visit here. Thanks, again.
Ann C.
Hi, Marc. Thanks for visiting our blog and for your concern. For more information, please visit here. Thanks, again.
Pat
Why would my cola be 5.9 instead of 8.7z
I am 74 and self employed
Ann C.
Hi, Pat. Thanks for visiting our blog. For your security, we do not have access to private information in this venue. We ask that members in our Blog community work with our offices with specific questions. You can call us at 1-800-772-1213, Monday through Friday, between 8:00 a.m. and 7:00 p.m., for assistance. You can also contact your local Social Security office. We hope this helps.
Pat V.
See the income tables for Medicare Part B premiums. What about using a similar table for Social Security itself?? I think that the Social Security benefits should be reduced by income levels, being the highest benefits get paid to the lowest income status, then being reduced and even eliminated as taxable income increases. Maybe that method will help fix the Social Security payments system instead of cutting vital benefits to those who need them the most.
KnowALittleBitAboutSSA
Social Security benefits are based on what you pay into Social Security. If you made more, you paid more, and you receive more when time to collect a benefit.
Pat V.
What index does Medicare B tie to? Social Security goes with CPI. I think it makes sense that both benefits follow the same index. Medicare B premiums are expensive, but you still pay them, with or without Medicare Advantage. Thank you.
Vedonna L.
Truth is we never really see a cola increase when are premiums keep going up the same
tom l.
it is going down in 2023 $164.90
Dave L.
It’s true my benefit will increase, but the Medicare premium more than doubled, so I will receive about $50 per month less.
Jeffrey W.
Will We Get An Extra$ 140 On Our Monthly Socail Security Checks
Nita S.
How much will my sadi increase I’m receiving $851
Gabriela
Hi, Nita,
If that is your gross benefit amount, you will have an increase of $74. $851 + $74 = $925.
If that is your net amount, and you have deductions (money being deducted for Medicare part B premiums, or for other things like child support, overpayments, etc.) then you will receive a higher increase.
For example, if they are deducting only for the Medicare part B premiums, then your gross amount is $1,021.10 ($851 + $170.10).
Then your increase will be $89 (rounding cents), and you will have to pay about $5 less for the part B. So, $851 + 89 + $5 = $945