Get Social Security System

SSI benefits increased in 2023 because there was an increase in the Consumer Price Index from the third quarter of 2021 to the third quarter of 2022. Effective January 1, 2023 the Federal benefit rate is $914 for an individual and $1,371 for a couple.

Social Security offers a monthly benefit check to many kinds of recipients. As of February 2023, the average check is $1,693.88, ing to the Social Security Administration – but that amount can differ drastically depending on the type of recipient. In fact, retirees typically make more than the overall average.

The Social Security Retirement benefit is a monthly check that replaces part of your income when you reduce your hours or stop working altogether. It may not replace all your income so it's best to identify other ways to pay for your monthly expenses as you age.

The maximum monthly benefits for SSI, SSDI, and retirement in 2023: Supplemental Security Income (SSI) – The maximum payment is $914 monthly for individuals and $1,371 monthly for couples. Social Security Disability Insurance (SSDI) – The maximum payment is $3,627 a month.

Most people can receive an estimate of their benefit based on their actual Social Security earnings record by going to .socialsecurity.gov/estimator. You also can calculate future retirement benefits by using the Social Security Benefit Calculators at .socialsecurity.gov.

By Vance Cariaga Social Security recipients will be getting much bigger payments in 2023 thanks to an 8.7% cost-of-living adjustment that will boost the average check by more than $140 a month. But if you heard that an extra $200 will be tacked on top of that this year, you heard wrong.

Social Security benefits and Supplemental Security Income (SSI) payments will increase by 8.7% in 2023. This is the annual cost-of-living adjustment (COLA) required by law.