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. Kathie J.

    This is election season and the only reason we are getting an increase. Doesn’t compare to the millions that some get paid to give a two faced speech and yet want to run our government.

  2. Olivia S.

    We all just got kicked to the curb again!!!

  3. Glenn

    I have an idea. I don’t think anyone in government with any power actually reads these notes so I was thinking. Lets do a test. If anyone high enough in government with the ability to do anything reads this, please send me a response at glenn.lake(at)aol.com (not my main email “@” removed to eliminate spiders) and enter my name backwards (nnelg) in the subject line. Lets see! This will be fun!

  4. clementine s.

    OMG friends, let’s pray to our father in heaven that we get morer than what is stated here!! I really need an increase also.Let’s keep HOPE alive!!!!!!!!!!

    • Dee D.

      Amen, earlier as stated, Im taking my complaint to God. he can fix it..

      • ROBERT C.

        WHERE HAS HE BEEN FOR THE LAST 8 YEARS

  5. Evelyn M.

    My clients need more $

  6. Ann E.

    Thank you for absolutely NOTHING! Why bother? This so called increase is like getting nothing at all! Same old story, the rich get richer! Our medical costs have increased far more than 0.3! Too,bad those overpaid politicians can’t live on what we get for social security. Why should they care? Look at the benefits they get for life! They all but have forgotten the seniors in this country. A Disgrace granting this so called ” increase! I can’t wait to live it up with this extra money! I don’t know where to spend it first, increase grocery costs, higher utility costs, increase insurance premiums, higher property taxes, etc! This will help us so much. What an insult!

  7. chris

    why bother, “what difference does it make?”

  8. FRANK S.

    HEY OBAMA

    TAKE YOUR 0.3 SS RAISE AND STUFF MIT UP YOU ASS

  9. Lic. P.

    Dear friends:
    It’s a reality that the cost of life in our great nation is highest in the last time. The increasing of the meals, and rent complex for low income is sensitive too.

    Congratulations for the new information in order to be more healthy and safe in this country.

  10. LB

    I find it interesting that many feel that minimum wage should be $15 an hour but that seniors and disabled should only get a .3% raise . At $15 an hour for a 40 hour work week that comes to $600 a week or $2400 a month. Shouldn’t the seniors and disabled be entitled to minimum wage too?

    • Ann

      You hit the nail on the head! This is increase, if that’s what you want to call it, is an insult!

    • blanc_dragon

      In Switzerland, everyone has a guaranteed minimum income, for no reason other than it’s the decent thing to do. It’s not dependent on what the citizen has paid in, but rather on what any human being needs to live on.

      In the US, apparently it’s a sin to be disabled and poor and the punishment is poverty and medical bills that cause the majority of bankruptcies.

      • Paul

        Do you realize the population size of Switzerland? Compare that to the U.S and also take into account just how much money the Government of Switzerland has compared to the amount of citizens.

        Comparing small European countries and their policies to the United States is comparing apples to oranges. Especially a country as rich as Switzerland. Your comparison is ludicrous.

        Do you realize how hard it is to become a Swiss Citizen?

        We have SSI which can pay $733 to a disabled or aged person that hasn’t paid a penny into the system.

        Go move to Switzerland then blanc_dragon, have fun getting citizenship!

    • Dee D.

      You are on point, nicely said.

Comments are closed.