COLA

Social Security Benefits to Increase in 2018

October 13, 2017 • By

Reading Time: 1 Minute

Last Updated: October 13, 2017

man and woman outside smiling 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?

Yes
No
Thanks for your feedback!

Tags: ,

See Comments

About the Author

Jim Borland, Acting Deputy Commissioner for Communications

Jim Borland, Acting Deputy Commissioner for Communications

Related Articles

New Online Social Security COLA Notices

Social Security Benefits Increase in 2021

2015: The Year In Review

Social Security Benefits Increase in 2019

Comments

  1. Tyler m.

    WE WANT TO SEE MORE NIGGERS GOING AROUND RANDOMELY SHOOTING PEOPLE

  2. ERIC

    ,PUT A (— — — — — —) IN YOUR HEAD,

  3. TODD L.

    I JUST WAITING FOR SOMEONE TO BLOW THAT GUYZ HEAD OFF

  4. Alexis h.

    I need a copy of my ssi benefits being cancelled and date for me to be able to get insurance, thank you,Alexis hackney

    • V.V.

      Hi Alexis, thank you for your question. Unfortunately, and because of security reasons, we do not have access to personal records in this blog and cannot assist you. If your benefits ended and you need proof of that, you will have to contact your local office or call our toll-free number at 1-800-772-1213. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m.

      Just a reminder – Please be cautious about posting personal information on social media and communicating personal information via email.

  5. TODD L.

    SOUND FARE ENOUGH I THINK SO

  6. TODD

    CLOSE HIS MOUTH ONCE AND FOR ALL

  7. TODD L.

    ITS ABOUT DUE FOR THIS ONE GUY TO SCOLD ME AND WHEN HE DOES IM GOING TO RIP HIS HEAD OFF (. KILL HIM .) I CANT TELL YOU WHO

  8. KYLE S.

    MUST BE A MISTAKE ON YOUR PART ?

  9. Patricia M.

    My 2019 statement says I get a 2.8% increase but the amount stated says the same amount as 2018, is this a mistake?

  10. Patricia M.

    the 2019 statement says I will receive a 2.8 % increase but the total given is same as 2018. is this a mistake?

    • A.C.

      Hi, Patricia. For your security, we do not have access to private information in this venue. We ask members of our Blog community to work with their local office for specific questions regarding their case. You can also call our toll-free number at 1-800-772-1213 for assistance. Representatives are available between 7 a.m. and 7 p.m., Monday through Friday but you will generally have a shorter wait time if you call later in the day. Thanks!

Comments are closed.