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.
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Tags: Cost of living adjustment, Social Security benefits
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Jim Borland, Acting Deputy Commissioner for Communications
Jim Borland, Acting Deputy Commissioner for Communications
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virginia l.
how much will my check increase if it was1539 per
month
Craig
WERE GOING TO START FILLING PEOPLES DRINKS WITH POISON AGAIN AT HOMES AND SCHOOLS
virginia l.
did my ss go up in 2019
V.V.
Hello Virginia. Recently, we announced a 2.8 percent cost-of-living adjustment (COLA) in 2019. More than 67 million Americans who receive monthly benefits will automatically receive the increase. The COLA will take effect with Supplemental Security Income (SSI) payments paid on December 31, 2018, and Social Security payments paid in January 2019.
Most beneficiaries can check out their COLA notice in the Message Center of their my Social Security account.
For more details, check out our Cost-of-Living Adjustment (COLA) Information web page.
Ben
THATS HOW PEOPLE GET STABBED THEY SCOLD SOMEONE THEN THE PERSON STABS THEM RUNS A KNIFE ACCROSS THERE THROAT!!!!!
BEN
BECAUSE THEY WANT TO SLIT YOUR THROAT WHEN THEY SEE YOU AGAIN AND MAKE YOU BLEED!!!
Gail W.
I did not receive an increase in my Social Security check. Why not?
V.V.
Hi Gail. For some beneficiaries, their Social Security increase may be partially or completely offset by increases in Medicare premiums. The Social Security Act contains a “hold harmless” provision that protects most beneficiaries. The amount of the benefit will stay the same even though the Medicare Part B premium increases. For information about Medicare premiums in 2019, visit http://www.medicare.gov.
Scott
YOUR BETTER OFF DUMPING POISON DOWN THERE THROATS
AMY C.
DONT TRUST ANYONE NOT EVEN YOUR OWN FAMILY DONT EVER BUILD A RELATIONSHIP NOTTA GONNA HAPPEN
Ron
FREE CONTAMINATED FLU SHOTS NOW YOU CAN FUCK OFF ????????????
Ron G.
GIVE EM A FLU SHOT & TELL THEM TO FUCK OFF ?