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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bob g.
I did not get a cola, ore a statment yet why, 1-12-18
bob g.
where is my 2 %, why did I not get a statment…..why why I need it.
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.
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 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. Generally, you will have a shorter wait time if you call later during the day or later in the week. Thanks.
Carmen P.
I want to know why I did not get the incress in my SS check
R.F.
Hello Carmen. 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. Generally, you will have a shorter wait time if you call later during the day or later in the week. Thanks.
Kathy D.
I never received the 2% raise in my social security January deposit and would like to know 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 or later in the week.
Remember, if you receive Social Security benefits, Supplemental Security (SSI) Income or Medicare, you can request a benefit verification letter online by using your my Social Security account. Thanks!
Virginia L.
I received my SS check 1/10/18 via automated payment to my bank and did not receive an increase. It is still the same amount I have been receiving for the past year. What is the problem? Thank you. Virginia Lee
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 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.
John W.
for 2018 my cola was only .007% not the 2% that is mentioned . my Soc Sec # ***-**-****
R.F.
Just a reminder – We do not have access to personal information. Please be cautious about posting personal information on any social media channels.
If you need assistance, call our toll free number at 1-800-772-1213. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m. Thanks!
Barbara
I HAVE NOT RECEIVED ANY CHANGE IN THE AMOUNT OF MY SOCIAL SECURITY YET ..WHEN IS IT SUPPOSED TO HAPPEN ?
R.F.
The cost-of-living adjustment (COLA) will begin with benefits payable to Social Security beneficiaries in January 2018. Increased payments to SSI beneficiaries was effective on December 29, 2017.
frank g.
I have not received any increase since 2016 and there isn’t one in Jan check
amber t.
Why does my ssi amount cause me to only receive $80 in Florida food stamps? My entire ssi check doesn’t even cover my rent completely plus I have to take trolley to doctor and pharmacy so I have to buy trolley pass for each month so I’m already struggling to get by and I was getting $194 each month for groceries and then I got letter last week and my food stamps were decreased by $114 so all I have is $80 for food for a month.
R.F.
See “Understanding Supplemental Security Income (SSI)” for general information on SSI.
Please call our toll free number at 1-800-772-1213 for further assistance. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m. Thanks!
Millie B.
I received my new benefit statement but no increase noted. My husband received an increase but not I. I thought everyone was to get an increase?
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. Thanks.
Tommy T.
I didn’t get any increase in my 01 10 2018 ss check why is that if we got 2,0 increase.Tommy