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.

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About the Author

Doug Walker, Deputy Commissioner, Communications

Deputy Commissioner, Office of Communications

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Comments

  1. Elcho

    Keep feeding the illegal & their robust families, plus the rest of the animals that are entering our land illegally from any border.
    Their are the CANCER of our society.
    WE owe all of these to the one in our W H, thanks again, you really RUIN this land for ever, you’re the master…!!!!!

    • Tony

      Yeah those illegals get SS deducted from there checks every week like you and federal ncome tax withheld. They dont claim none of that cause there illegal as you say , where is all that money ? Get your facts straight and not just rant K like a chicken with no head ,are you going to work in the fields with 100 degrees weather at minimum wage? NO YOU WILL NOT SO PUT A CORK IN IT AND BE QUITE you SOUND IGNORANTE, YOUR PROBABLY LAZY AS HECK LOSERS, GET A LIFE AND GET LAID ,LMFAO!!!!! YOU SHOULD HAVE SAVED MONEY IN A SAVINGS ACCOUNT WHEN YOU DID WORK!! SO QUIT BLAMING OTHER PEOPLE FOR YOUR OWN MISTAKES AND STUPIDITY!!!! QUIT COMPLAINING

  2. J. M.

    American voters need to stop drumming down on who they vote for and stop listing to all the BS of life time politicians.

  3. Sandy L.

    This increase is a joke

  4. Robert M.

    Given the changes in wealth distribution over the past 20 or so years, there should be NO upper income limit on SS tax.

    • ROBERT C.

      totally agree

  5. ben

    WHOOP-DE-DEW-What they are not telling you yet is your increase in Medicare co-pay and deductible amounts. So basically you are going to lose not gain.

  6. Young B.

    Wow, is this what I have to look forward too?
    I don’t understand how SSN doesn’t keep up or near the CPI increases.
    I retired from the military at the age of 45. Thank God, when I retire for a second time, will have two retirement checks that keep up with the CPI.

  7. Sandy L.

    I agree the increase absolutely is divorce ridiculous increase I ever heard them they should be ashamed to even post it.

  8. Tony f.

    When the voter learns to vote crooked polititions out of every other election then we will have a better Govmt. Mean time the illegals are on the pay roll,get them off and we will get a bigger increase. Call those back stabbers Speaker Ryan,Mitch mcConell,whom ever represents you. Two terms out.

    • Tony

      Yeah those illegals get SS deducted from there checks every week like you and federal ncome tax withheld. They dont claim none of that cause there illegal as you say , where is all that money ? Get your facts straight and not just rant K like a chicken with no head ,are you going to work in the fields with 100 degrees weather at minimum wage? NO YOU WILL NOT SO PUT A CORK IN IT AND BE QUITE you IGNORANT PEOPLE, YOUR PROBABLY LAZY AS HECK LOSERS, GET A LIFE AND GET LAID ,LMFAO!!!!! YOU SHOULD HAVE SAVED MONEY IN A SAVINGS ACCOUNT WHEN YOU DID WORK!! SO QUIT BLAMING OTHER PEOPLE FOR YOUR OWN MISTAKES AND STUPIDITY!!!!

  9. Salvatore R.

    0.3 that is less than 1%. This the BS

  10. David F.

    As an SSI Beneficiary, the Foods & Goods in the Market places has increase over 20% for the past several Years, and the Government SSI has not match those increases so far. The proposed $3:00 increase will not help to off set the tremendous financial burdens the SSI Seniors are currently facing from Month to Month. All we are asking for, is to have an SSI Benefit increase that matches the National cost of living increase per Year. Thank You,
    Respectfully, Yours,
    Hon. David Forde a Senior SSI Beneficiary,

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