With August's Inflation Data In, Though, The Organization Has Revised Its Prediction To A More Conservative.

Right now, the social security check is $1658, but with the addition of 10.5%, it would transform into a consistently booked portion of $1833.10 by the start of the next year. If your birthday falls between the 11th and 20th, your check is paid on the third wednesday, so you'll see your first cola increase on jan. According to the senior citizens league, the current predicted cola for 2023 is set to be 8.9 percent, which is a staggering three percent higher than 2022.

The Nonpartisan Committee For A Responsible Federal Budget Said The 2023 Cola Could Be 10.8 [Cb2]% If Inflation Remains High For The Rest Of The Year.

The only option is to make some assumptions. According to a report from the senior citizens league, cola for the year 2023 is estimated to be 9.6 percent. Even though estimates for the 2023 cola increase are looking to give significant boosts to benefit payments — potentially a 10.8% increase — there are several reasons seniors.

Using This Formula, We Can Speculate What 2023 Will Look Like.

With this in mind, experts. The most recent inflation percentages indicate that the 2023 cola will, most likely, be on the higher end of that range. As of february 2022, the trend toward a 2023 cola is:

The Senior Citizens League Foresaw A 9.6%.

The report also predicts that the range could be as low as 9.3%. This is higher than the 8.6% it predicted in may 2022.