Create a My Social Security Account to see your 2023 COLA benefit increase. Here’s how

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Now that the Social Security Administration has announced a benefit increase starting in 2023, you’re probably wondering how much your payments will be next year. The cost of living adjustment – also known as COLA – will be an increase of 8.7%, the highest for over 40 years. If you are curious about the amount of your payments, you will need to create an online account My social security account.

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A My Social Security account will show you your current or future benefits, depending on your expected retirement age and work history. You can also obtain documents for declare your taxesask for a benefit verification letter or change your mailing address and other personal information.

Here’s how to access your Social Security benefits online and what kind of information and features you’ll be able to access with your My Social Security account. To find out more, if you have time before retiring, here is the the easiest way to save for retirement. If you are receiving benefits now, here is the Social Security Payment Schedule for October.

Create a My Social Security account

To see all of your Social Security benefits online, you must first create a My Social Security account. Here’s what to do.

1. Go to ssa.gov on your browser and select my Social Security.

2. Then click on Create an account.

3. You will be prompted to sign in with your ID.me account or login.gov, unless you created an account before September 18, 2021. Note that you will need to create one of these accounts if you do not have one.

4. Once you have an account, you will need to agree to the terms of service to continue.

5. Next, you will need to verify your identity. Social Security Administration will send you a one-time security code that you must enter within 10 minutes to access your account.

You should now have access to all your social security statements and other details online.


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Social Security information you can view online

When you log in to your online account, you will be able to view your social security statements. If you are not yet receiving benefits, you will see an estimate of how much you could receive when you retire.

There’s a chart that shows your monthly benefit amounts if you retire — for example, if you were born in 1960 or later, your chart may show retirement at age 62 (early), age 67 (full), and age 70 (delayed). Note that these retirement ages may change in the future. The longer you wait to retire, the more money you could receive per month.

You can also see your eligibility and earnings information. If you have worked for at least 10 years, you will have enough work credits (you need 40) to receive benefits. If you click View your earnings record, you’ll see your Social Security and Medicare taxable earnings for each year you worked.

When can I see my cost of living adjustment for 2023?

As long as you set up your My Social Security account online before November 15, you’ll be able to see how much your benefits will be increased, Acting Commissioner of the Social Security Administration Kilolo Kijakazi said. You will then log into your My Social Security account in early December and check the message center to see your new 2023 benefit amount.

If you do not subscribe to a My Social Security account, you receive a COLA notice by mail in December.

Note that your higher Social Security payment will take effect in January 2023. If you are a recipient of Supplemental Security Income, your first increased payment will be on December 30.

What else can you do with a My Social Security account?

There are several things you can do from your My Social Security account.

  • Apply for a replacement Social Security card.
  • Begin your retirement application.
  • Start a disability claim if you are unable to work for a year or more due to a medical condition.
  • Calculate benefits for a current or former spouse, based on your income.
  • Check the status of your retirement or disability application.
  • Ask for a benefit verification letter showing your payments or lack thereof.
  • Declare your salary if you work and have Social Security disability insurance.

Would you like more information on Social Security? Here’s how to know if it’s sure to share your social security number.

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