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. Jessica g.

    Hey all up my check to 548.00 and my rent now is 500.00 and I can’t even pay my rest of my bills I was drawing 750.00 and it needs be like that we’re i can pay my bills cause I can’t live no we’re I only 5.48 that not paying my bills so y’all need to do something so I can have a place we’re I don’t get a vickted that so meat up that I told y’all that my rent high and 548 ain’t going to keep me a place to live and power on in my house y’all need to do something about now before something be done about this for real

  2. Edelmira C.

    Need to know how much was deducted from my social security check for Medicare for 2018

    • A.C.

      Hi, Edelmira. If you need a benefit verification letter, you can view, print, and save your benefit verification letter using your personal my Social Security account. For questions regarding your benefit verification letter, we ask that members in our Blog community contact our offices. You can call our toll-free number at 1-800-772-1213 for assistance. Representatives are available between 7:00 a.m. and 7:00 p.m., Monday through Friday. You will generally have a shorter wait time if you call later in the day. We hope this helps.

  3. Geremy

    THE WORLDS BIGGEST NIGHTMARE

  4. Geremy

    WHEN SOMEONE SCOLDS YOU IS THAT THE 1st thing that comes to your mind what can we dump in this persons drink to shut there mouth I hope we’re not the only ones thinking this I hope you can see this world wide and sit there like it wasn’t you

  5. Geremy

    DUMP IT DOWN THERE THROAT AND SAY YOU CAN FUCK OFF PAL

  6. Geremy

    THATS ONE WAY TO GET PEOPLE BACK THAT SCOLD YOU THAN TELL THEM TO GET LOST??????

  7. Bens

    THATS ONE WAY TO GET PEOPLE BACK THAT SCOLD YOU THAN LOOK AT THEM AND TELL THEM TO GET LOST

  8. BENs

    WERE JUST WAITING FOR THIS ONE GUY TO SCOLD US SO WE CAN KILL HIM THATS GOING TO BE SO EXCITING WHEN IT HAPPENS BE SURE TO AT LEAST TELL YOUR JUDGES

  9. BenS

    DOESNT THAT SOUND LIKE SO MUCH FUN POISONING PEOPLES FOOD AND DRINKS WHEN THEY SCOLD YOU THAN SIT THERE LIKE IT WASNT YOU GIVE THEM AT LEAST THE TALK OF THE TOWN

  10. Kyle

    WE WONT WAVE AT YOU BUT WILL DEFINATELY FLIP YOU OFF ??????????

Comments are closed.