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 2021

2015: The Year In Review

Social Security Announces 2.5 Percent Benefit Increase for 2025  

Social Security Benefits to Increase in 2019

Comments

  1. Wynston P.

    I’m a 67 year old veteran I live at VA Housing at
    725 S.Hindry Ave. Inglewood, CA 90301
    Can you mail me a
    Social Security Award Letter ?
    Wynston Perry
    725 S. Hindry Ave.
    Unit 326
    Inglewood, CA 90301

  2. JOSEPHINE R.

    Why has our direct deposit of SS benefit changed. It is coming almost a week late. This changes how our bills must be paid. We were never notified of this change.

  3. Alice M.

    The last two increases have caused my ssc to be less. This time $13.80 less. Is that normal as no one I ask has had there check be smaller after so said increase

  4. Margaret C.

    How can i get a copy of my benefits statement for 2018. Mine got lost in a move and I need a copy for assited living arrangements.

  5. Hien V.

    You did not response to my question on emails
    Question : A couple, each of them get their retirement benefit on their own record. Wife’s benefit is about half of husband’s. If husband pass away, can she get his full benefit and hers will be closed .

  6. Ernestina O.

    I just need you to increasing for SSI monthly there’s a reason why I’m on it my mom would know my whole family will know I am on it but I know to which is how I tell you I have trouble reading writing and spelling I have trouble with my speech I have trouble understanding people and I have a hole in my head and I’m on medic three kinds of medications I used to have seizures in a pass which is my mom and my family are trying to watch out for it see if I don’t have them again that’s how I’m on SSI income every single month and I was wondering to see if you can increase it for me cuz I have a daughter that’s not disabled she is smart everything like that so I just need to take care of my daughter more better that’s why I asked for increasing also please God will you provide for us I hope this will help us through thank you so much for your time I’ll be watching over for your email thank you again ernestina Ortega from Milwaukee Wisconsin USA thank you for your help God please answer my prayers let this be true impossible thank you so much for always and ever in Jesus name I pray amen God bless you all bye

  7. Ernestina O.

    hi my name is Ernestine Ortega I’m just texting just to let you know that I get very little SSI a month and I wanted to know if he can increase it I need it increasing in a miracle because I’m struggling with food bills past due bills and everything like that I’m struggling to buy other things for showers for me and my daughter and I’m struggling to buy household things to clean the house and the I can’t even throw my daughter birthday party or anything like that because I’m struggling so bad with very little income and I wanted to know is will you please please increase it so I will feel a little better I’m not trying to be home money-hungry here I’m just trying to see if I can provide for me and my daughter so that when my daughter turns 18 one day she can work I just need your help if he can make things possible for me to be great but thank you and God bless you again this is ernestina from Milwaukee Wisconsin thank you very much God bless you again Ernestine Ortega thank you very much for your time hope you hear my prayers God hopefully to hear from you soon

  8. Kristy

    Wondering when cola will pay increase?

    • R.F.

      Hi Kristy, the 2.0 percent cost-of-living adjustment (COLA) became effective with benefits payable in January 2018. Increased payments to individuals receiving Supplemental Security Income (SSI) benefits, became effective on December 29, 2017. You can find more details about the new COLA at http://www.socialsecurity.gov/cola.
      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!

  9. bernadino

    go ahead and leave your social security number with your telephone number and your age so one of are representatives can touch base with you to return your phone call thankyou have a great day.

  10. Sabrina r.

    Thank you

Comments are closed.