Social Security Benefits Could See Highest Increase In 40 years

SMS
Social Security Benefits Could See Highest Increase In 40 years
Recent inflation data suggests beneficiaries could see a raise of up to 8.9%.

The Social Security Administration is responding to the highest inflation rates in 40 years with what's expected to be the biggest cost-of-living raise in decades.

The estimated adjustment next year could be up to a nearly 9% increase, based on recent inflation data.

We'll know for sure where the cost of living raise lands when the Social Security Administration releases the final adjustment percentage in October.