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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Jacqueline B.
The 2018 COLA increase notification mailer indicates that the 2018 increase will be 2.0%, yet the dollar amount indicates that the 2018 amount will be the same as 2017. Why?
Sandra a.
Why did we not receive an increase for 2018
R.F.
Hi! Monthly Social Security and Supplemental Security Income (SSI) benefits will increase 2.0 percent in 2018. The 2.0 percent cost-of-living adjustment (COLA) will begin with benefits payable to Social Security beneficiaries in January 2018. Increased payments to SSI beneficiaries will begin on December 29, 2017.
For specific questions, 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.
You can find more details about the new COLA at http://www.socialsecurity.gov/cola. Thanks!
Jacqueline B.
The COLA increase mailer I received says to write to social security if I feel the amount is incorrect, yet it does not indicate where to send the correspondence.
Could you please provide a mailing address to use regarding the COLA increase amount questions.
R.F.
Hi Jacqueline, you can write to us or send us an email message. You can find more details about the new COLA at http://www.socialsecurity.gov/cola. Thanks!
Dan M.
It’s very simple folks, those that need the money most, will get the least, its always been that way, and will never change. See, the wealthy boast that they’re paying way more in taxes and donations (from their abundance), then the poorer people , but they fail to realize, (or put their blinders on), its not the amount paid, its about what’s left after the bills are paid. There is always enough money to help out other countries, and for war, but then, war is big business, some get rich from it, and some get dead for it- while others simply get ignored.
Debbie
The 2% raise that we received from Social Security went towards the price of Medicare. No change in the monthly amount.
jim
I guess the people that give the cost of living don’t know what it really cost to live. They must not have to pay for food ,gas, doctors or anything
They must get there thing free of charge . That must be nice . I know thee milk here cost 3.49 a gal. at Bremen WalMart . That’s high food is up there also .So who ever deside’s the cost of living don’t know anything and that there doctor’s and food and gas is free
jim
if there was a increase on my check then why dose my check refleck the same amount as last years say I got 750.00 and it’s going up then why do my check say 750.00 after so called cost of living
Brenda s.
My spouse got increase in benefits for2018 and I didn’t. Want to know why
R.F.
Hi Brenda. 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. Please call our toll free number at 1-800-772-1213 for assistance. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m. Thanks.
Harvey S.
To say the social security benefits will increase in 2018 is FAKE news!!!!!!
Your increase in the Medicare part B premium exactly equaled the social security increase.
Ellen G.
What is MY increase for 2018? I did not get a letter telling me this information.
R.F.
Hi Ellen. 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. Please call our toll free number at 1-800-772-1213 for assistance. 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 during the day or later in the week. Thanks.