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

No Cost-of-Living Adjustment for 2016

Social Security Benefits Increase in 2023

2015: The Year In Review

Social Security Benefits Increase in 2024

Comments

  1. Chris

    ITS NOT HARD TO SLIP POISON IN PEOPLES DRINKS ????

  2. Chris

    LET US GIVE THE JUDGE A DRINK WELL FUCK HIM OVER FOR GOOD

  3. Chris

    DUMP POISON IN PEOPLES DRINKS TO KEEP THEM FROM GETTING A RETIREMENT ??????????

  4. Chris

    LETS DUMP POISON IN THE JUDGES DRINKS AND RUIN THERE RETIREMENT FOR THEM

  5. Chris

    LETS TAKE A BIG OLE SHIT AND RUB IT ALL OVER THE JUDGES MOUTHS AND RUIN THERE RETIREMENTS

  6. Chris

    LETS START POISONING PEOPLES DRINKS FOR THE NEW YEAR ???

  7. Chris

    WE HOPE SOMEONE POISONS ALL YOU MOTHER FUCKERS

  8. Chris

    THOSE JUDGES CAN SUCK A DICK

  9. Chris

    WE CAN TELL YOU TO FUCK OFF AFTER YOU DRINK IT REALLY REALLY FAST ?????

  10. Chris

    DRINK IT DRINK IT DRINK IT REALLY FAST ITS POISON HURRY HURRY

Comments are closed.