Social Security COLA will see its largest increase in 2023 by 8.7% jump. This is the highest jump in 41 years. Here is the detail about When this Big COLA Increase Will Take Effect in your checks
This increase of COLA will calculated by inflation changes in year over year
For 2023 this increase will depend on changes between July-September 2021 and July-September 2022.
The 2023 increase COLA goes into effect with December 2022 social security
It means it will which appear in checks of January 2023.
Social Security payments always out on Wednesday of each month. so if you were born from the 1st to 10th of the month, you get check on Jan. 11, 2023.
If your birthday falls between 11th to 20th your first COLA increase check will out on Jan. 18
If your birthday between 21st to end of the month you will get your check on Jan. 25 in 2023.