Social Security and VA cost-of-living adjustment will be 8.7% in 2023, highest increase in 40 years
Amid record high inflation, Social Security beneficiaries will get an 8.7% increase to their benefits in 2023, the highest increase in 40 years. Like Social Security, Veteran Affairs benefits and pensions are tied to the same COLA as Social Security. So recipients should see an 8.7% increase in January. The Department of Veterans Affairs is set to release finalized VA compensation rates on Dec. 1
Read more: Social Security COLA will be 8.7% in 2023, highest increase in 40 years (cnbc.com)
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