Social Security announces 2023 COLA increases

The Social Security Administration has announced a 8.7% increase in SSA and SSI payments for 2023.

For Annual Recertification’s effective January 1, February 1 and March 1, you can do one of the following:

  1. Continue to use only what is reported in EIV; or
  2. Use the SSA benefit award letter provided by the resident that shows the COLA increase (as long as it is within 120 days of receipt by owner.) SS/SSI will send recipients a COLA notice in December 2022 or residents may obtain this via their personal Social Security account at This notice will show the new amount they will receive. If you choose to use this notice as a 3rd Party Verification, please remember to date stamp the notice when you receive it from the tenant, as there is no date on the actual notice; or
  3. Use the current verified income and add the 8.7% COLA increase. If you use this method, remember to document the file to indicate that the COLA was included in the Annual Income determination.

For recertifications effective April 1 or later, EIV should be updated by this time to reflect the increase.

For more information on the COLA: 2023 COLA Increase