WASHINGTON, DC – PA U.S. Sen. Bob Casey, who also is the U.S. Senate Special Committee on Aging Chairman, applauded the announcement to provide seniors with an 8.7% cost-of-living increase in Social Security benefits, the largest increase in Social Security benefits since 1981. Casey said, “As prices continue to rise and seniors’ budgets are being stretched thinner each month, this historic increase meets the moment. Social Security is a sacred commitment to our seniors and this increase will provide more seniors with financial security as they age.” The 8.7% cost of living adjustment will be applied Social Security benefits starting in January 2023, and builds on the 5.9% increase for 2022. Additionally, Medicare Part B premiums will decrease next year, helping seniors better afford their health care.