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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Barbara A.
I received a $5.00 raise in Social Security.
Is this some kind of joke?
What about the much older people who have to make a choice between eating and buying prescriptions.
I don’t know how they survive.
I feel so sorry for them.
These people devoted their lives to jobs and this is what they end up with.
This just isn’t fair.
James R.
I just checked my bank account to see what our Social Security amount would be with the new COLA raise. Mine showed an increase, but my wife’s did not. Hers is the same as the previous months. Any idea why?
R.F.
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
Thanks.
Maxine P.
The so called social security raise did not show on both mine & my husband’s deposit for month of January. The Medicare premium was increased to take all of the SS increase. How is that supposed to help those dependent on this as our income & the cost of living keeps soaring?
Billy V.
Where is the 2% increase in SS for 2018. Did not reflect on January’s pay???
R.F.
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.
Thanks!
Joy
on 10/3/2017, rec’d notification of 2.0 COLA increase for 2018. However, there is no increase in my 1/2018 payment.
Jim
What month will we see the increase?
Jim
Does the increase start in January, 2018?
R.F.
Hi Jim, the cost-of-living adjustment (COLA) will begin with benefits payable to Social Security beneficiaries in January 2018. Increased payments to SSI beneficiaries were effective on December 29, 2017.
You can find more details about the new COLA at http://www.socialsecurity.gov/cola. Thanks!
stephanie d.
Hello my name is stephanie d.gulley dob august 19th
1982 mother maiden name is hammond
new address 314 grobmyer ave carrollton ky 41008
Im needing another award letter other got lost in the process of moving
R.F.
If you need proof you get Social Security benefits, Supplemental Security (SSI) Income or Medicare, you can request a benefit verification letter online by using your my Social Security account.
Just a reminder – We do not have access to personal information, therefore, we do not send out letters or do direct messaging in this venue. Please be cautious about posting personal information on any social media channels. Thanks!
Donald L.
I didnot recieve a 2% raise in my Social Security benifit check for Jan. 1, 2018.
Theodore R.
hi my name is MR,Theodore Raymon Buettemeyer and i’ve already had read this article once before and now i just got done rereading it to refresh my memory and so this way i’m already knowledged ABOUT THE SSI & SSDI &DISABILITY BENIFITS AND ALSO THE 65+INCLUDING FULL RETIREMENT BENIFITS I REALLY THINK THAT THIS TOPIC AND THE idea of writing and posting this excellent topic and really good information that was completely written and very well written and the new cpi-w i really like the fact that once i am approved social security income , and once social security review board approves and i’m awarded all of the back pay from once the application waqs started and not denied and as soon as i recive my award letter stating thew full amount back pay and also inluding in that letter is the monthly amount that i’ll be rec9iveing every first or third of the month and i love that the am ount is now in effect as of january,2018 and i think that everyone whom is currently receiveing one of the benifits and i kknow for a fact that especially for those senir citizens that nare already retired once they see that the amount meaning the social security taxes everyone is gonna be really loving ife cause they have a little more money in there bank account thank for time and consideration for taking ur time to read my thoughts and my sencere message and response to rhis new amended ssi taxes tha tis currently amened as of january,1st,2018
sincerly,
new applicant for ssi disability benfits
MR,Theodore Raymon Buettemeyer
01/09/2018