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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Glenda B.
I need ny new benefit amount and SSA=1099
Roland S.
when do we receive our annual SS statement for 2018 ?
R.F.
Hi Roland, the cost-of-living adjustment (COLA) notices for 2018 were mailed in December, 2017. 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 personal my Social Security account. Thanks!
Rosanne L.
My county office needs proof of my 2018 gross income. Can you send this to me?
R.F.
Hi Rosanne, 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 personal my Social Security account. Thanks!
SYLVIA D.
I DID NOT RECEIVE THE COLA ADJUSTMENT IN MY PAYMENT FOR JAN. 2018.
WHAT SHOULD I DO?
R.F.
Hi Sylvia! 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. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m. Thanks.
marilyn
why do some get more increase than others? shouldnt it be the same????
R.F.
The 2.0 percent cost-of-living adjustment (COLA) applies to all Social Security beneficiaries. You can find more details about the new COLA at http://www.socialsecurity.gov/cola. Thanks!
Jennie D.
Why didn’t I receive a s.s. increase for 2018?
R.F.
Hi Jennie! 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 and answer your questions about this matter.
Please 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.
gerald l.
why did not get a raise in social security for 2018
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.
C. R.
Why did my husband’s social security benefit go up this month because of the cost of living adjustment and mine stayed the exact same amount? Are some of us NOT getting the increase?
Barbara S.
When do u answer my question?
Barbara S.
I want to know why I didn’t get a raise in my social security.
R.F.
Hello Barbara. 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. Thanks.