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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Patricia R.
What is the maximum I can work this year while receiving social security disability?
R.F.
Thank you for your question, Patricia. The Substantial Gainful Activity (SGA) limit in 2018 is $1,180 per month (or $1,970 for blind applicants). In addition to the amount of money you make, Social Security may also look at the number of hours you’re able to work. We hope this information helps.
DAVID E.
i would like to know when an i going to get an cola. didnt see it on my jan. ck.
Rita D.
Can you tell me how the cost of living on your social security was figured.I talked with one person that got $21.00 and another person that got just a $1.00…one lady is 87 ..the other lady 89..and then one lady got nothing
Elizabeth L.
why didn’t I get my 2% increase and why is my husbands medicare 10$ more then mine? shouldn’t all Medicare medical Insurance be the same?
michael p.
My social benefits did not increase this month but my VA comp did why is that???
Len s.
If one worked for McDonalds one would receive at $5 increase from $10 and hour $200. more for a 40hr weeks pay which would be$10,400. yrly increase so they took away our little raise with their increase in medicare. So guess we eat less and stay home more.! LOL
len s.
The wouldnt hire me too old!!!
Len s.
Me also Melody guess they were ashamed to cut it anymore than they have
joseph s.
need a new card dam it that’s all I,m asking
J.Y.
Good news! You can now apply for a replacement Social Security card online when you sign up for a my Social Security account. We hope this helps!
joseph s.
how do I get a new social security medicare card my is in bad shape, thanks
J.Y.
If your Medicare card is lost, stolen or damaged, you can ask for a new one at this website: http://www.socialsecurity.gov/medicarecard. Thanks!
Melody D.
ACCORDING TO NEW 2018 SS STATEMENT, I WILL RECEIVE THE EXACT AMOUNT ($1,113.00) THAT I HAVE RECEIVED LAST YEAR & YEARS IN THE PAST.