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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Rose M.
I have not received my New Benefit Amount for 2018
R.F.
Hi Rose. The cost-of-living adjustment (COLA) notices for 2018 are mailed during the month of December, so please continue to look out for it in the mail. Thanks.
David J.
Why did my 2% increase go to medicare premium? All but $4 dollars.
Della H.
Why do I never get an increase on my social security benefits, can I pull from my husband social security his gross is 1484 .00and mine is717.00,I would appreciate a reply or I can call
R.F.
You can 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 have a shorter wait time if you call later in the week. Thanks.
mary m.
why did i not receive a increase in my social security for 2018?
mary m.
o yes i believe i read somewhere cost of living has gone up 18% over the last several years. someone needs to check back several years . i do not think we have received our fair share.
R.F.
Unfortunately, but for security reasons, we do not have access to personal records in this blog. 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 have a shorter wait time if you call later in the week. Thanks.
mary m.
why would i not receive a increase in my ss?
tom w.
three dollars is not a 2 percent raise
Jim M.
Glad you got $3. Many of us got ziltch.
tom
three dollars is not a 2 percent raise
John I.
I have not received my social security statement for 2018. What will be the dollar amount of my increase, and what will be amount withheld for part b medical?
Susan
Give seniors a break (2%) raise is not enough! I really though President Trump was going to look out for the elderly! I am so disappointed in our government! Stop all the foreign and take care of Americans!
Dorothy M.
My letter that I received showing the 2% in social security increase for recipients for 2018 ,showed no increase at all on my lettter. Can you please explain why I didn’t get the 2% increase promised for 2018. Others that I know received the increase .. my letter indicated that mine would remain the same as 2017 . Why? Thank you.