How Much More You'll Get in Your Check Next Year?
The 8.7% COLA is the largest in more than four decades.
Social Security benefits in 2023 will see a cost-of-living adjustment, or COLA, of 8.7%. That's the largest increase since 1981, when it hit an all-time high of 11.2%.
How much will SSI increase in 2023? Supplemental Security Income, or SSI, beneficiaries will see the standard individual monthly payment increase $73 per month, to $914 per month in 2023 from $841 this year.