Social Security Benefits to Increase in 2018
Reading Time: 1 MinuteLast Updated: October 13, 2017
When we announce the annual cost-of-living adjustment (COLA), there’s usually an increase in the Social Security and Supplemental Security Income (SSI) benefit amount people receive each month. Federal benefit rates increase when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index (CPI-W).
The CPI-W rises when prices increase, making your cost of living go up. This means prices for goods and services, on average, are a little more expensive. The COLA helps to offset these costs. As a result, more than 66 million Americans will see a 2.0 percent increase in their Social Security and SSI benefits in 2018.
Other changes that will happen in January 2018 are based on the increase in the national average wage index. For example, the maximum amount of earnings subject to Social Security payroll tax will increase to $128,700. The earnings limit for workers younger than “full” retirement age will increase to $17,040 and the limit for people turning “full” retirement age in 2018 will increase to $45,360.
You can find more information about the 2018 COLA here.
Did you find this Information helpful?
Tags: Cost of living adjustment, Social Security benefits
See CommentsAbout the Author
Jim Borland, Acting Deputy Commissioner for Communications
Jim Borland, Acting Deputy Commissioner for Communications
Comments
Comments are closed.
RICK K.
?JUST IN TIME FOR THE HOLIDAYS ?
BEN
Could you imagine seeing 15-20 NIGGERS going around dumping stuff into people’s ?????on your DENIALS )()())()()( than getting in traffic???
Agent ).
Will be really pushing your blog pages in the next few weeks & getting in traffic with 10 NIGGERS going every which way ??????))))
Ben))S
Smart move that’s one way to start killing off the population?
Mr ..
When we keep getting denied we won’t even flip u the finger will just dump it down your throat ?and get in traffic like it never happened !!!!!!
Mr. p.
Whoops just spilled something in someone’s drink ? welll keep doing it on denials
CORNELIA C.
I COULD NOT GET THRU ONLINE FOR THE SOCIAL SECURITY AWARD LETTER IT KEPT FLASHING SAYING THERE WAS A BREACH HOW ELSE CAN I GET MY MOST RECENT STAMENT . THANKYOU
jo a.
please tell me the amount my 2019 benefit increase
ALLEN S.
Why hasn’t my wife received a cola notice for the increase in benifits I got mine but she never got hers?
Patsy m.
Hello I have not received my Benifit letter for 2018 & I need it A.S.A.P
V.V.
Hi Patsy. Most beneficiaries can check out their COLA notice in the Message Center of their my Social Security account. You will also receive this COLA notice by mail in December. The mailings are staggered. In the future, you will have a choice of online or paper notification.
For more details, check out our Cost-of-Living Adjustment (COLA) Information web page.