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

Social Security Updates Occupations List Used in Disability Evaluation Process

Social Security’s Benefits for Children

Social Security Benefits Increase in 2024

Supplemental Security Income Recipients, Act Now – Go to IRS.gov – A Message from Social Security Commissioner Andrew Saul

Comments

  1. dani

    ” Great blog here! Also your web site loads up fast! What web host are you the usage of? Can I get your associate link to your host? I want my web site loaded up as fast as yours lol ”

    wretye5ryabcd.com

  2. Jbspurlock

    never never will we receive a real increase that will impact our SS check!

  3. Beth B.

    The culprit for the tiny cost-of-living increase for Social Security benefits in 2017 is a general lack of inflation. In order to calculate adjustments due to cost-of-living changes each year, the Social Security Administration turns to a specific measure of inflation known as the Consumer Price Index for Urban Wage Earners and Clerical Workers, or the CPI-W for short. Specifically,
    https://babyishcare.com/best-wagons-for-kids/

  4. Cindy

    My husband passed nine years ago. I have the S.S.
    widow’s pension. It isn’t enough and I’ve tried to get
    some part-time work to supplement. I’m in a rural
    area where you have to drive or you get no where.
    No public transportation here. But as we all know
    car insurance and car repairs is costly. I really
    got soaked by dealership for high cost in December.
    The dealership kept contacting me about trading in
    the car. I don’t think they realize at all the struggles
    many widows have.

  5. Edmundo I.

    That is the best search system in the world

    http://google.com

  6. nguyen h.

    – Production time for each large contract from 10 to 15 days, so you need to connect soon with our Viet Nhat base box to not miss the opportunity to send gifts to your customers.
    – Handy in every place to move, from going out or needing to do hard work. All Japanese models are suitable for you
    http://oduvietnhat.com/

  7. jerry

    i don”t know what planet the government figured the cost of living on but i would be more than glad to pay only a .3 percent increase on everything i purchased last year especially groceries do they(the government) not know that all companies almost on a weekly basis increase the price of their products anywhere from 10 to 300 percent.i used to work for a whole sale company for over 40 years and when we had an increase in cost it was never .3 percent it was always 1 to three percent

  8. sherry e.

    how come the rent can go up 3% or i got a 31 dollar raise but only 4 dollars on my social security… i already pay 50% of what i get a month on rent….. there COLA is better than ours??? i am curious….. so sad…. nobody cares about us older people……

  9. Sherry M.

    Thanks for sharing excellent informations. Your website is so cool. I am impressed by the details that you’ve on this web site. It reveals how nicely you perceive this subject. Bookmarked this web page, will come back for more articles. You, my pal, ROCK! I found simply the information I already searched all over the place and just could not come across. What an ideal web-site.

    http://www.o5KxtOBkV8.com/o5KxtOBkV8

  10. Doretta M.

    Excellent write-up. I absolutely appreciate this site. Keep writing!|

    http://www.CnAWwML2hD.com/CnAWwML2hD

Comments are closed.