COLA, SSI

An Increase in Social Security Benefits in 2017

October 18, 2016 • By

Reading Time: 1 Minute

Last Updated: March 17, 2021

cola2017The annual cost-of-living adjustment (COLA) usually means an increase in the benefit amount people receive each month. By law, the monthly Social Security and Supplemental Security Income (SSI) federal benefit rate increases when there is a rise in the cost of living. The government measures changes in the cost of living through the Department of Labor’s Consumer Price Index (CPI-W).

The CPI-W rose this year. When inflation increases, your cost of living also goes up. Prices for goods and services, on average, are a little more expensive.  Since the CPI-W did rise, the law increases benefits to help offset inflation. As a result, monthly Social Security and SSI benefits for over 65 million Americans will increase 0.3 percent in 2017.

Other changes that would normally take effect based on changes in the national average wage index will begin in January 2017. For example, the maximum amount of earnings subject to the Social Security payroll tax will increase to $127,200.

Information about Medicare changes for 2017, when announced, will be available at www.Medicare.gov.  For some beneficiaries, their Social Security increase may be partially or completely offset by increases in Medicare premiums.

You can find more information about the 2017 COLA at www.socialsecurity.gov/cola.  For changes in the national average wage index, go to www.socialsecurity.gov/OACT/COLA/AWI.html.

Did you find this Information helpful?

Yes
No
Thanks for your feedback!

Tags: , ,

See Comments

About the Author

Doug Walker, Deputy Commissioner, Communications

Deputy Commissioner, Office of Communications

Related Articles

Celebrating the Fifth Anniversary of the Achieving a Better Life Experience Act

Apply for Social Security Benefits Online

Social Security, A Source of Independence for Millions

Applying for Social Security Disability Benefits

Comments

  1. Gert

    Will be gobbled up by increase in Medicare premiums.
    Average raise around four bucks announcer on radio said this a.m. Big deal – what a joke.

    • bettyg

      yes, WHAT A JOKE!! yes, radio dj’s were having a hay day with this.

      it’s long gone before we get it with the constant increase of health insurance premiums.

      bettyg, iowa

  2. KHEDIO

    SUPREME COURT JUDGES GAVE THEMSELVES 42% .CONGRESS AND SENATORS ARE CRYING FOR A RAISE FOR AT LEAST AT LEAST 40%. SO WE GET .03% IS’NT THIS NICE OF O-BOMB-BA AND HIS LIARS .
    THEY GET THE MONEY OF RAISES FROM FEDERAL PENSION PLANS.(which they agreed on their own in 1985 to get on pensions) HOW MUCH WILL THE LEAST PAYMENT FOR ONE OF THESE CRONIES WHEN THEY RETIRE?===$135,000yr. PLUS, SOME ARE OVER $200,00 yr.,AND WE VOTE THESE PEOPLE IN OFFICE FOR US. A JOKE. THAT’S WHY TRUMP WANTS CHANGE. THEY ARE AFRAID OF HIM . SO THEY HAVE TO FIND STORIES THAT DON’T PERTAIN TO US OR THE COUNTRY.
    HILLARY WILL KILL US ALL. WE MUST GET THESE BUMS ON SOCIAL SECURITY AND SHORT TERMS IN OFFICE. THEN WATCH OUR NUMBERS RISE.
    OUR SSI, HEALYH AND WELFARE IN TROUBLE AND RUNNING OUT OF MONEY BECAUSE OF OUR POLITICAL REALM OF CROOKS AND GREED. THEY HAVE RAISED THE QUOTA OF PEOPLE FROM ALL OVER THE WORLD TO ENTER , THAT WE ARE NOW OVERWHELMED WITH ALL CUSTOMS IN AMERICA. THE QUOTA WAS 100,000 A YEAR TO LET IN AMERICA. NOW THE BUMS UNDER OUR NOSES ARE LETTING 650,000 A YEAR IN.
    HILLARY O-BAM-BAM WANT MORE TO COME IN.
    STATS SHOW WE NOW HAVE 27 MILLION WHO HAVE ENTERED AND THIS IS WHY WE AS AMERICANS GET THE SHORT END OF EVERYTHING.
    WE BETTER WAKE UP. WE HAVE THE WORST OF TWO EVILS TO MANY A VOTER SAY;
    TRUMP IS THE ONLY WAY FOR HOPE.

    • Observer

      Currently, LEGAL immigration into the U.S. is 1 MILLION people per year, with no regard to skill sets needed here*, as it once was. Now, the only criteria is ‘family,’ regardless of their ability to contribute to the economy. Most become drains on it.
      * H1B visas are exceptions granted to tech skilled immigrants, who displace citizens with identical skills because they’ll accept lower pay (Google ‘Disney tech workers’ as an example). STEM education will not change anything unless the H1B visa system changes to benefit citizens first.
      IMO, ALL legal immigration needs to stop until the Real/Actual US unemployment rate is 1%.

  3. Charleen S.

    0.3 is not much of an increase (about $3.00) So sad, We the seniors get nothing or very little and the Senate and house get huge raises every year! They are the ones that should get nothing, they have done absolutely nothing for us this past 4 years!!! Medicare goes up, and everything else but all we get is 0.3%. Give all the money that took from Social Security. They want our votes but yet they get there and do nothing for us!!!

  4. HW

    We all should be MAD AS HELL. with what this gov. is doing to the old people of this country.
    The people that really Made this country.
    All I can say I am glad I am not any younger !
    Where we live the cost of water & sewer at a min, rate is over $1800.00 per year.
    How can we survive with the cost to live.

    • Jack M.

      Most elderly earned very little when they worked, so never expect to get what someone that earned a lot gets because it’s not going to happen. I get what I deserve and there’s nothing I can do about it, so I am just glad I have an extra pension.

  5. Ronald A.

    I would like to know why there is a medicare increase in payment? There was no inflation in 2015, but the federal government raised the cost of medicare in2016. Now they are going to raise it again in 2017.It just doesn’t seem fair to me, when it comes to senior citizens the government is allways screwing them. This is one senior citizen who is fed up with WASHINGTON and all the crooked politions.

    • R.F.

      Information about Medicare changes for 2017, when announced, will be available at http://www.Medicare.gov.

  6. Moneyman

    I am just glad I have a pension because we all know for a fact social security is not enough to support you for the rest of your life. I will get a $5.55 raise on my social security and that is nothing to brag about.

  7. Moneyman

    For every dollar you now receive from social security it means you’ll get $.03 raise, so why are you celebrating? Those that get $850 a month they’ll get $852.55, so what can you buy for $2.55 extra a month? One gallon of gas and have a few pennies left over,

  8. richard s.

    I want to know how they expect us to pay for our prescriptions with no increase? and no increase is what that amounts to when you figure medicare will increase more than 0.3%

  9. chuck

    F—– THIS ADMIN, THIS N____ GAVE 1.5 B to IRAN
    The Seniors get nothing.

  10. chuck

    FUCK this admin. they gave IRAN 1.65b and the seniors get nothing

Comments are closed.