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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Teresa G.
I was told that cost of living will increase 2.0 I was thrilled until most of it goes to medicare which I was not happy…why cost so much and took most of my cost of living to medicare….why cant just take half instead of almost whole amount and seems like mine remains the almost the same in year of 2018…does not help cost of living like food, gas etc….please explain to me why??? …thank you for your time
Mary S.
You may be raising Social Securities checks 2% but no Onassis that the Medicare was going to raised $20 ….. That makes my check for the second year in a row still $877 a month. My rents going go $10 more and I get no raise, great…. Not that any of you care
Lynda E.
My statement from the SSA showing my new benefit amount was glued together. I cannot read the numbers. How can I get a copy of this statement from your website?
Anthony R.
Trump screwed us again down with REP up with DOC
Anthony R.
SS is bad #$%&&%*^%%%*^%
Anthony R.
Is there on law to stop this crap
Gloria W.
My s.s. Benefits did not increase from last year. Why????
↵#***-**-****.
↵Gloria J Wright.
↵No one has replied to me.
R.F.
Hi Gloria. Unfortunately, but for security reasons, we do not have access to personal records in this blog and cannot answer your question. Please call our toll free number at 1-800-772-1213 and speak to one of our agents. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m.
Just a reminder – Please be cautious about posting personal information on social media. Thanks!
Gloria W.
My s.s. Benefits did not increase from last year. Why????
↵#***-**-****.
↵Gloria J Wright
Anthony R.
why did they put two thirds of my increase in to Medicare medical insurance part B premiums for I thought the law prevents Medicare premiums from cutting into Socials Security benefits.
ALICE A.
I thought when we get the increase in ss for 2018 — there would not be an increase in Medicare — well that was not a true statement – mdicare took $ 24.00 from my increase – leaving me with $6.00 raise. I was so disappointed I have included that in crease in my 2018 budget. Sad, sad, sad.
Gary A.
Why didn’t your recent mailing include the 2% increase in the section “How Much Will I Get And When”?