Category: Senior Citizens League

Average Social Security Payments Could Hit $1,800 Owing to Inflation

September 15, 2022
benefitsBusiness & Marketscolaeconomyhigh inflationinflationpersonal financeSenior Citizens LeagueSocial IssuesSocial SecurityUS
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Inflation could drive up Social Security payments by a record-high level next year due to inflation, with average payments reaching $1,800, according to an analysis by the Senior Citizens League, a nonpartisan group that focuses on issues related to older U.S. citizens. Based on the inflation data through August, the Senior Citizens League estimates the…

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Inflation May Push Social Security COLA up Around 10% in 2023

September 8, 2022
BrightbudgetingCost of Living adjustmentFixed IncomeFuture Planninginflationpersonal financeretirementseniorSenior Citizens LeagueSocial Security
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By Georgina Tzanetos From Bankrate.com With inflation near a 40-year high, Social Security could get a historic boost next year to help seniors keep up. The most recent estimate for a 2023 cost of living adjustment (COLA) is 9.6 percent, says Mary Johnson, Social Security and Medicare policy analyst for senior advocacy group the Senior Citizens League…

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