Social security recipients and Veterans who rely on disability payments will get some welcome relief from the crushing inflation of the last year. Beginning January 1, 2023, disability recipients will be given a cost of living increase of 8.7%. This is the largest increase in over 30 years. Military retirees will also get the same increase. The United States Department of Labor sets the annual COLA by measuring the Consumer Price Increase as compared to the previous year.
The average increase in Social Security benefits for a disabled worker will be $119, from $1,364 a month to $1,483 a month.