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. HW

    Hey what happened to the bill HR4012 that was to give us a little more?
    Ask your Congress man of your Senator just what is
    up with that!
    This is election time.
    You know the squeaking wheel gets the grease!
    Or is it time for a change?

    • ROBERT C.

      its way way past time for a change any politician on either side that has not produced a change in the area that he is suppose to represent needs to be voted out so new blood can come in. In other words VOTE THEM ALL OUT

  2. Jon A.

    Oooo. What an increase. Multiply this year’s monthly, net SS check, which was a REDUCTION from the 2015 amount, by 1.003.

    Am I grateful? NO! I paid into the system the maximum amount for each of my working years. U.S. Govenment, you are SCREWING me from getting the benefit of my savings. It’s MY MONEY. IT NEVER WAS “YOUR” MONEY.

    You bureaucrats are not only idiots,you’re also assholes.

  3. Derek

    I like money!!! :-$

  4. Sammy L.

    thank for nothing

  5. eddie1247

    I’ll make sure I don’t spend my $3.00 all in one place.

  6. Jerry D.

    Cram the .3%. My homeowners alone has gone up $98 from one year to the next. My vehicle insurance went way up. Again, I say “CRAM YOUR .3%!! You thieves need it more than me. If only I could be an illegal immigrant.

  7. Patricia T.

    I hate whenever we get SSI increase because when they increase $3.00 a month my rent increases $20.00 each time. I don’t want the $3.00 increase if my rent gets increased $20 each time. So actually, I’m getting ripped off because of that BS increase. I wish there was a way I could refuse any and all future BS increases before that BS increase has me homeless. Does anyone know if there’s anyway I can legally refuse the BS increase?

  8. T H.

    There are us who cant buy food sometimes pay rent buy meds that we need to live and the price of everything,everything is going up look how high rent and we get too much as we are told to get help with rent,come on the people we put in office we need to rethink about who we put in place this is crazy I guess they don’t care if their putting us out of our housing not being able to just take of our daily needs and live,and I know I’m not the only I know of some people who never worked a day here and get more money then I do come on,now they give us a few cents and how long now has it been,its been a few years now we should happy happy,with the price of life going up! HELP US we should be treated better then this. I got more somebody get at me.

  9. Thoams C.

    0.3 % WOW, now how much are they going to raise the Medicare premimum cost ? Bet it would be higher than 1 %. After years of no COLA increase the 2017 increase should be more along the lines of 3 % not 0.3 %…..

    • R.F.

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

      • MrBubble

        Please Ray… You obviously haven’t read anyone’s concerns and can only offer pamphlets explaining in detail how screwed we on SS are getting. Get a job that actually contributes something to society. Or are you just a robot program that responds automatically to pre determined words and phrases?

  10. Karen K.

    When Obama came into office, one of the first things he did was to tie SS raises to an index he knew would not allow for any or minimal raises to SS. Another thing we can thank him for. He’s a student of Marxism. They don’t much care for elderly, children, disabled or vets., etc…..and it shows! But we can give a terrorist nation billions of dollars….

    • Denise

      So true. Obama is a joke. Watch and see Clinton get in and we’ll have another 4yrs of Democrats and see what jokes she’s got up her sleeves!!!!

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