Statement: Social Security Cost-of-Living Adjustment Not Enough to Cover True Cost of Aging

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Older Americans still face high costs for basic needs ARLINGTON, Va. /PRNewswire/ — The following is a statement from Ramsey Alwin, President and CEO of the National Council on Aging (NCOA), on today’s announcement of the Social Security cost-of-living adjustment (COLA) for 2023: “Older adults on Social Security will get a much-awaited COLA increase of 8.7% next year. While this increase is historic and needed,…

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