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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Bruno B.
MY WIFE DID NOT RECIEVE ANY INCREASE IN HER CHECK. WHY???
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!
Doris B.
My Social Security check has been decreased due to the Medicare premium rise. Social Security has given me two different explanations for this. According to SocialSecurity.gov, there is a ruling called “Hold Harmless” and I meet all of the criteria to be protected from a decrease in income. So, why isn’t Social Security following the rules? My visit to my local office was pointless as my request for the form used for an appeal was DENIED.
Dan M.
They should have sent out letters to those that would not receive an increase due to increased cost in their insurance. I need the Insurance much more than the 2% because of the medical issues that I face, which will only get worse in time. The people that set this website up are only the messengers that have to face the back lash- It’s not their doing. The government should have sent letters.
Sallie L.
My SS was DECREASED this month. WHY??
R.F.
We’re sorry about this inconvenience, Sallie. 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.
kathryn m.
my benefit increase didn’t change from $533. Just wondering….
Michele N.
Everything says SS will increase in 2018, but not when in 2018. Does anyone have a date for this 2% increase?
R.F.
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 was effective on December 29, 2017. You can find more details about the new COLA at http://www.socialsecurity.gov/cola. Thanks!
Susan
so I will turn 66 in Dec 2018. Am I allowed to make 44,360 in this year.
I took social sec t in Dec 2017
R.F.
Hello Mary, if you were born January 2, 1943, through January 1, 1955, then your full retirement age for retirement insurance benefits is 66.
If you attain your full retirement age in 2018, the limit on your earnings is $45,360. However, we only count earnings before the month you reach your full retirement age. Please read our publication “How Work Affects Your Benefits” for more information. Thanks!
Sandra L.
Why didn’t I get my 2.0% increase in benefits for 2018? I am getting exactly the same amount as last year.
Thank you for checking into this.
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.
KAY M.
DIDN’T RECEIVE A RAISE, WHY?K
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.
Robert S.
How do I find my SS benefit for 2018?
Waiting for an answer…Second request
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. Thanks!