Social Security benefits and Supplemental Security Income (SSI) payments will increase by 8.7% in 2023. This is the annual cost-of-living adjustment (COLA) required by law.
The increase will begin with benefits that Social Security beneficiaries receive in January 2023. Increased SSI payments will begin on December 30, 2022.
We mail COLA notices throughout the entire month of December. However, you may not need to wait for your mailed notice to learn your new benefit amount for 2023. COLA notices are available online in early December, to most beneficiaries through the Message Center of their personal my Social Security account if they created their account by November 15, 2022.
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