Social Security checks could rise 8.7% in 2023
Supplemental Security Income program is in need of reform.
Supplemental Security Income (SSI) paid to retirees, survivors, and disabled individuals
Social Security program Trustees. To make matter worse, benefits have actually lost 40% of their buying power since 2000
Social Security program beneficiaries are also battling another problem: taxes.
Supplemental Security Income (SSI) benefits don’t get SSI payments every month
Two SSI payments in April, September and December, while no payments are deposited in January, May and October
Supplemental Security Income (SSI) payments are deposited on the first day of every month.
Social security increase for 2022 based on an annual cost-of-living adjustment (COLA) — tied to inflation.
The COLA for 2022 was 5.9%. However, because of soaring consumer prices this year, the projected 2023 COLA is 8.7%,
Supplemental Security Income (SSI) payments for 2022 are $841 for an eligible individual, $1,261 for an eligible individual with an eligible spouse, and $421 for an essential person