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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Adela B.
WHY get a 2%Social security increase for cost of living if the increase on Medicare took most of it?
JOE S.
THIS IS BS THEY GIVE SENIORS 2.0 RAISE AND TOOK IT BACK IN SS PAYMENT .AND IF THE RAISE DIDN’T COVER THEIR RAISE THEY TOOK MORE FROM YOUR CHECK .
IF THIS ISN’T BS I DON’T WHAT IS ‘
.OUR SO CALLED REP IN HOUSE ANS SENATE ALL NEED TO GO . .THEY ARE SO FULL OF S— IT HURTS
HELP EVERYONE ELSE AND THE HELL WITH THE SENIORS .
P. S. MY PRESIDENT A– JUST ANOTHER SELFISH BA—– LETS SEE IF THESE BAS—– COULD LIVE ON &750.00 A MONTH NO BUT THEY CAN HAND THEMSELVES A BIG RAISE.
jerry l.
they gave us a raise of 2.0% in 2018 they all so raised the cost of medicare! In 2017 i made after i payed my medicare premium i took home$1185.00 a month.In 2018 after i pay my medicare premium i make with the 2.0% raise my take home $1185.00! so tell me were is the cost of living raise i did not see a thing the gov gave them self a raise of 2.0% with my premium going up for medicare! So were is my cost of living raise? I make the same only the gov got a raise!
Harriet M.
I don’t think it s right for social security to get small raise we haven’t got one since Obama been in office I only make 834.00 a month do you think I got much of a raise I just don’t think it’s right I worked hard all my life for my s.s now that I can’t work I think I should get all the money I payed in it’s only right
M L.
I didn’t even get SS increase 2018 got letter telling what would be getting at 72 then get letter from state of NC will have pay my medicare premium am confused
way I figure new amount they took 134 bucks outa my SS for that and I didn’t get what first letter said I would get
NEED infor to where can UNDERSTAND in English for Senior citizen Seniors need the raise for RX food heat etc.
The rich don’t need benefits they are rich the poor like me need the benefits
sorry my feelings ……
Deborah l.
I didn’t get an increase on my social security like everyone else. Why is that
R.F.
Hi Deborah! 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.
William W.
Did I get a raise?
charles r.
when will we see the increase in our ss pay
Michael M.
With the new tax changes ,do people who are on social security disability also get a increase in their income?
Donald L.
need copy of 2018 Benefit statement including the proper Medicare b ammount
Glenda B.
I need my new benefit amount and my SSA-1099
Glenda B.
my address is 2483 County Rd 431
R.F.
Hi Glenda, 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.
The SSA-1099 showing the amount of benefits paid during last year and the amount of any voluntary Federal tax withheld, is mailed by January 31 each year.
Just a reminder – Please be cautious about posting personal information on social media. Thanks!