Social Security Increase for 2023 ?
The 2023 Cost Of Living Increase is right around the corner and here is how it works. The COLA is determined by data reported in the Consumer Price Index and they look over the year over year changes in the third quarter of the year which are the months of July, August and September.
The Consumer Price Index data will be released by the US Bureau of Labor Statistics on October 13, 2022 and that is the data the Social Security Administration will announce the 2023 Cost of Living Increase. By law, the Department of Veterans Affairs has to follow what the Social Security Administration does so that is exactly what they will do.
You will see your VA Disability Pay Increase in your January 2023 VA Disability Payment.
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