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CPI up +0.4 for Sept; Social Security will rise 8.7% in 2023
Amid record high inflation, Social Security beneficiaries will get an 8.7% increase to their benefits in 2023, the highest increase in 40 years.The Social Security Administration announced the change on Thursday. It will result in a benefit increase of more than $140 more per month on average starting in January. ---------- Federal civil service and military service pension will also rise by 8.7%; Happily Medicare part B premiums will decrease slightly in 2023. The pension increases will mean an additional $20 B or so in Federal Spending (my guess). Posted by: Lord Garth 2022-10-13 |
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