Higher Inflation Could Mean A Bump In PA Social Security Checks Next Year


>>Higher Inflation Could Mean A Bump In Pennsylvanians Social Security Checks Next Year

(Pittsburgh, PA) -- Pennsylvanians who draw social security could see another cost-of-living bump in 2023 due to rising inflation. According to the Senior Citizens League, cost of living increases to social security are tied to inflation and could increase payments by more than seven-percent in 2023. Bumps to social security due to inflation are calculated around October every year, with U.S. inflation expected to continue rising due to the pandemic and military conflicts in Europe. This year, Pennsylvania's seniors on social security received a five-point-nine-percent cost of living increase, the highest benefits increase since the 1980s.


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