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| Name | Social Security’s 2023 COLA is the highest since 1981 |
| Video Uploader | Video From VERIFY |
| Upload Date | This Video Uploaded At 13-10-2022 19:19:45 |
| Video Discription | The VERIFY team looked into whether your Social Security payment will increase by 8.7% next year due to an annual cost-of-living adjustment. To find out if this is true, we spoke with the Social Security Administration, Mary Johnson, Social Security and Medicare policy analyst for the Senior Citizens League and the U.S. Bureau of Labor Statistics. QUESTION: Is Social Security’s cost-of-living adjustment (COLA) for 2023 one of the highest in history? ANSWER: Yes, it is. The Social Security Administration (SSA) adjusts benefit amounts every year to account for inflation through a cost-of-living adjustment (COLA). On Thursday, Oct. 13, SSA announced that Social Security recipients will receive an 8.7 % increase in their benefits beginning January 2023. This is the highest COLA since 1981, when it was 11.2%, data on the SSA website show. READ MORE: https://bit.ly/3g7bEtO ------------------------------ At VERIFY, we're answering your questions about what's true and false. Visit our website at verifythis.com If you've seen a viral claim online and you're not sure whether it's true, let us know! Email questions@verifythis.com or text us at 202-410-8808. Find us on social @verifythis. Facebook: https://www.facebook.com/verifythis |
| Category | News & Politics |
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