Social Security Disability and SSI-Related Benefits to Increase by 8.7% in 2023!
The Social Security Administration announced that Social Security benefits will increase by 8.7% in 2023. This cost-of-living increase applies to (1) retirees, (2) individuals receiving Social Security Disability (SSD) benefits, and (3) recipients of Supplemental Security Income (SSI).
The increase goes into effect in January 2023 for retirees and SSD recipients. For SSI beneficiaries, the increase begins on December 30, 2022.
On average, retiree benefits will go up by $146 per month, SSD benefits will increase by $119 per month, and SSI beneficiaries’ standard monthly payments will increase by $73. This is the largest increase since 1981! This increase will help beneficiaries cover the rising costs of food, housing, and other needs.
Although the Social Security Disability and SSI application process continues to move slowly, this increase will go a long way to helping individuals who need income just to meet their basic needs.
Our office continues to represent individuals seeking Social Security Disability and SSI benefits. You can call our office at 610-446-3457 or click here to send an email to set up a consultation with one of our attorneys. We will explain the process, guide you and fight to get and keep the benefits you need.