Social Security Administration announces 8.7 percent COLA hike, largest in 40 years ...Middle East

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Social Security Administration announces 8.7 percent COLA hike, largest in 40 years
Story at a glance The cost-of-living adjustment increase of 8.7 percent is the highest in four decades. The boost will help beneficiaries meet the rising costs of goods and services driven by inflation.  However, higher incomes could push some over taxable income thresholds. Social Security beneficiaries can expect to see an 8.7 percent increase in their monthly checks beginning in 2023.  The figure is the highest cost-of-living adjustment (COLA) issued by the Social Security Administration in 40 years.  The boost will help recipients, many of whom are retirees, meet higher costs on goods and services driven by rising inflation.  Each year, COLAs are a

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