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

Celebrate Earth Day 2024 by Opting Out of Paper Notices

Social Security Benefits Increase in 2021

Social Security Announces 2.5 Percent Benefit Increase for 2025  

An Increase in Social Security Benefits in 2017

Comments

  1. Kyle

    TELL PAPPY HES AN ASSHOLE I HOPE SOMEONE BLOWS HIS HEAD OFF ????????THAT NIGGER

  2. KYLE

    POISON IN YOUR DRINKS IS OUR LOAN TO YOU ASSHOLES ?????

  3. Baker V.

    I need a letter stating my SS monthly benefit for a loan

  4. Mindy

    FREE FLU SHOTS YOU HAVE .H I V

  5. Kyle

    We’ll be back to shoot your son in his head

  6. Larry R.

    My mom has not received a 2019 Cola notice as of today’s date. Also, there has been no increase to her direct deposit at the bank. How can we find out if she is getting the increase. She has been receiving social security since 2001.

    • V.V.

      Hi Larry. Most beneficiaries can check out their COLA notice in the Message Center of their my Social Security account. If your mother is unable to create an account or encounters a problem, she can call us at 1-800-772-1213 (TTY 1-800-325-0778), Monday through Friday from 7 a.m. to 7 p.m. At the voice prompt, say “helpdesk” or she can contact her local Social Security office. If your mother hasn’t received the COLA notice, she may want to ensure that her address is correct with Social Security.

  7. Patty D.

    My benefits decreased in 2018 more than a $100,00 but increased this 2019 to more than $100.00, bring it back to the 2017 rate. My husband just assumed it was due to our Medicare costs but now I’m not so sure as he didn’t have any Medicare cost. Should I file a claim??

  8. SCOTT

    GOING AROUND CITY TO CITY RANDOMELY BLOWING NIGGERS HEADS OFF ?

  9. SCOTT

    SHOOT THEM IN THE HEAD AS THERE DRIVING DOWN THE ROAD ????????

  10. SCOTT

    WE WANT TO SEE MORE NIGGERS GET INTO ARGUMENTS SO THEY CAN SHOOT EACH OTHER IN THERE HEADS OR MIX THERE DRINKS ???

Comments are closed.