The cost-of-living rise for Social Security in 2023 would be the highest in 40 years.

When the cost-of-living adjustment for 2023 is released, Social Security pensioners who are struggling with increasing costs may hear some good news.

According to the Senior Citizens League's most recent forecast, growth will climb by 8.7% in 2019.

The official adjustment will take into account the September inflation statistics, which should be released this week.

When the Social Security Administration releases the cost-of-living adjustment for 2023 this week, retirees who are dealing with increased prices owing to record high inflation

A nonpartisan senior organization called the Senior Citizens League predicted last month that the COLA may reach 8.7% in 2019.

That would make it the greatest rise in about 40 years, surpassing this year's yearly cost-of-living adjustment of 5.9%.

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