Social Security Recipients Could Soon See the Biggest Benefits Change in Over 40 Years

·3 min read
Social Security Recipients Could Soon See the Biggest Benefits Change in Over 40 Years

For retirees on a fixed income, big changes to Social Security benefits could affect their finances in profound ways. Here's why Social Security benefits are changing so much. While last year's 5.9% COLA wasn't too much lower than the 8.6% benefits increase retirees could see next year, the 2023 Social Security raise will be a huge departure from the increase most current recipients have seen for the majority of their retirement years.

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