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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Barry R.
I received my 2% increase in January but my wife did not see a change in hers, should she have gotten an increase of 2% also???
R.F.
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. One of our representatives should be able to provide your wife with an explanation. 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!
Renee G.
In the last 3 years, I have received $10.00 of the COLA. Medicare got the rest. My rent has increased $120.00. with another increase to come this year. Food, electric, gas and everything else is up as well. How do we survive?
Betty J.
I did not get the 2% increase in my s.s. Check for January. Why?
R.F.
Hi Betty. 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. One of our representatives should be able to provide you with an explanation. 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.
Taosheng K.
Why my Social Security benefit has not got the 2% increase?
Lawrence P.
My wife just received her SS check and there was no COLA increase. WHY?
Marcia D, Parker
SSN *** – ** – ***
Rich
When are the award letters coming out for 2018
R.F.
Thanks for your question, Rich. The cost-of-living adjustment (COLA) notices for 2018 were mailed during the month of December. You can call our toll free number at 1-800-772-1213 and request a copy.
Remember, you can request a benefit verification letter online by using your my Social Security account.
Lori D.
I did I not get my 2 % raise
R.F.
Unfortunately, and because of security reasons we do not have access to personal records in this blog.
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.
Cathy L.
My benefits did not increase, I believe there is an error.
R.F.
One of our representatives should be able to provide you with an explanation. 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!
Barbara S.
I did not get a 2% increase on Jan.10th 2018..Can you tell me why..Have tried to call several times and waited 40 min..no response..Can you tell me why..
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. Okay sorry.