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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Kathy W.
I received my 2018 benefit report today. My amount only went up 3.00. It should have been at least 25.00. How can this be rectified ?
R.F.
Hi Kathy. Unfortunately, for security reasons, we do not have access to personal records via this blog. You may contact us and request a review of your records. You can call us at our toll-free number at 1-800-772-1213. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m. You will generally have a shorter wait time if you call later in the week. Thanks.
Regina
Big deal a raise and i come homw eith a dollar more because medicare payment went up 17.00. So its no rai
Elle
My hisband and I will not receive the 2%cola for 2018, we will be receiving the exact amount as 2017. Why is this?
R.F.
Unfortunately and because of security reasons we do not have access to personal records in this blog and cannot answer your question at this time. One of our representatives should be able to provide you and your husband with an explanation and answer your questions. Please call our toll free number at 1-800-772-1213. Representatives are available Monday to Friday, between 7 a.m. and 7 p.m. You will generally have a shorter wait time if you call later in the week. Thanks.
Bonnie C.
Medicare gobbled it up, just like it did last year! The raise is nothing but a joke!
Mary K.
My monthly benefit for 2018 is exactly the same as 2017, $618.30 to the penny. It did not go up at all.
R.F.
Hi Mary. Unfortunately and because of security reasons we do not have access to personal records in this blog and cannot answer your question at this time. One of our representatives should be able to provide you with an explanation and answer your questions about this matter. Please call our toll free number at 1-800-772-1213. Representatives are available Monday to Friday, between 7 a.m. and 7 p.m. You will generally have a shorter wait time if you call later during the day or later in the week. Thanks.
debi
I’ve seen this same answer to about a half a dozen questions….can you reply to anything??
sANDRA r.
WHY DO MY MEDICARE PREMIUMS KEEP INCREASING TO MATCH THE SUPPOSEDLY INCREASE IN MY SS. THIS HAPPENED IN 2017 AND NOW WILL HAPPEN IN 2018. WHY THE DECEPTION. EITHER GIVE US A RAISE OR NOT.
Elle
Seems the government is doing what it does best smoke and mirrors shell game with our money
Bonnie C.
All the talk you hear is about the raise that we will get on our SS checks. No mention at all about the raise in our Medicare premium, which is mysteriously the exact to the penny amount of the SS raise. Who do they think they are kidding?
Bernard F.
I’m trying to find out when I will receive the 2018 Benefit Awards Letter. I need it to apply for compensation available to me thru my former employer. As of 12/4/2017 I have NOT received the 2018 Benefit Awards letter.
R.F.
Thanks for your question, Bernard. The cost-of-living adjustment (COLA) notices for 2018 are mailed during the month of December.
Barry R.
The lead question for this answer was “When will my wife and I receive our 2018 Benefits Award Letter”. That was not answered here, So: the question remains: when will my wife an I receive our 2018 benefits award letter?
R.F.
Hi Barry, the cost-of-living adjustment (COLA) notices for 2018 are mailed during the month of December. If you need further assistant, please call our toll free number at 1-800-772-1213. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m. Generally, you will experience a shorter wait-time if you call later in the week. Thanks!
Marlene J.
When will I receive my 2018 Social Security Benefit Award Letter?
R.F.
Hi Marlene, the cost-of-living adjustment (COLA) notices for 2018 are mailed during the month of December. Thanks!
Mike C.
Hmmmm. It must be a mistake. My local office of
Soc. Sec. said my increase for 2018 is only
30 cents (Really) I have it in black & white.
I don’t see the 2% that is promised.
I think I’ll re-visit them next week.
Robert s.
bigb5011@comcast.net