COLA

Social Security Benefits to Increase in 2018

October 13, 2017 • By

Reading Time: 1 Minute

Last Updated: October 13, 2017

man and woman outside smiling 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.

Did you find this Information helpful?

Yes
No
Thanks for your feedback!

Tags: ,

See Comments

About the Author

Jim Borland, Acting Deputy Commissioner for Communications

Jim Borland, Acting Deputy Commissioner for Communications

Related Articles

Social Security Benefits Increase in 2022

Social Security Benefits Increase in 2021

Social Security Benefits Increase in 2023

Social Security Benefits Increase in 2020

Comments

  1. LeeAnn L.

    Hi Again.. My husband received his increase in Soc. Security Benefits for 2018. I did NOT., why is this?
    Thanks.

  2. LISA S.

    How come my benefit went from 790.00 a month to 717.00 a mont

    • 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. Thanks.

  3. paul c.

    My SSA check has been $2333 for the past 2 years and a 2% increase would equal about $47 for a total
    of 2380
    Please explain why my present check is only $2360

    • R.F.

      Hello Paul. Unfortunately, and because of security reasons we do not have access to personal records in this blog.
      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!

  4. Marian J.

    I am questioning my 2018 benefits. As of Feb 2, 2018 I did not get my increase of 2%. Please reply. Thank you.Also, I did not get my Jan. increase.

    • R.F.

      Hi Marian. 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!

  5. Suzan M.

    Am trying to apply for deceased spousal benefits. How am I supposed to remember dates back 60 + years?

  6. Al C.

    My ssn check did not arrived as normally scheduled.
    I have not made any changes with the SSN dept.
    When the “third of the month” falls on a Saturday or Sunday, I always have received my check on the previous

  7. Al C.

    My ssn check did not arrived as normally scheduled.
    I have not made any changes with the SSN dept.
    When the “third of the month” falls on a Saturday or Sunday, I always have received my check on the previous normal week-day. Is this something that Trump has done to delay our checks.

  8. Lonnie L.

    How much is the raise our check when get the raise our check.

  9. carol

    I didn’t receive my 2% increase

    Carol Campbell
    — — 1249

  10. Bonnie

    My husband got his increase in benefits as of Jan 1, 2018 but I did not. Why and how do I find the answer to this question?

Comments are closed.