Most Social Security recipients are probably aware by now that they’ll be getting an 8.7% cost-of-living adjustment (COLA) in 2023 — the highest in more than 40 years. The COLA is based on this year’s skyrocketing inflation rate and will boost the average Social Security payment in 2023 by more than $140 a month.
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COLA notices are now available online to most beneficiaries by visiting the Message Center of their my Social Security account, according to the Social Security Administration. This is the most secure and convenient way to get COLA notices online and save messages for later.
The SSA will also mail COLA notices throughout December. You’ll want to hold on to the notice because it includes important information about your new benefit amount. If you don’t receive it, check with family members or others to make sure they didn’t get it instead. The SSA advises that you wait until January to contact the agency about the mailed notice if you haven’t seen it yet.
One thing to keep in mind is that there are only two ways you will get notices about your 2023 COLA: online through your my Social Security account, or through the mail in an official document. As the SSA states on its website, no government agency or reputable company will solicit your COLA or other personal information, or request…
