Social Security official: Benefits likely to rise 8% due to high inflation

Social Security official: Benefits likely to rise 8% due to high inflation

An official with the Social Security Administration said seniors and others who rely on the benefits program are likely to receive a cost-of-living adjustment “closer to 8%” at the end of 2022 due to the current rate of inflation, which is the highest in four decades.  That increase would represent the biggest-cost-of-living adjustment, or COLA, …

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