COLA

Social Security Benefits to Increase in 2018

October 13, 2017 • By

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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.

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About the Author

Jim Borland, Acting Deputy Commissioner for Communications

Jim Borland, Acting Deputy Commissioner for Communications

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Comments

  1. ALAHMADI

    WE HOPE YOUVE BEEN GETTING OUR MESSAGES WE WILL NEVER TRUST YOU AND OR NEVER WILL???

  2. TOMMY B.

    how do i get proof of my income 2017 2018

  3. DEREK

    SCOLD THEM BACK AND WATCHEM LOSE THERE MINDS ?????

  4. KYLE

    ????FLU SHOT????????????????

  5. ALISHA

    WHEN YOU GET IN AN ARGUMENT WITH PEOPLE JUST MIX POISON IN THERE DRINKS ? ???????

  6. ERINCOLBY

    ✈️. ????. ???? ????. ❌

  7. ERINCOLBY

    ❌❌❌❌❌❌✈️✈️✈️✈️✈️?????????????????????????????✈️✈️✈️✈️✈️❌❌❌❌❌

  8. SCOTT

    KILL THE PEOPLE WHO HAVE ALWAYS SCOLDED YOU!!!!!

  9. DEREKSLATER

    RANDOMELY KILLING OFF PEOPLES FAMILIES FROM COAST TO COAST CITY TO CITY

  10. KENDRA

    GIVE THAT S.O.B H I V FOR FUCKING ME OVER ON MY STUFF

Comments are closed.