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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Delores C.
I just had a question!!!
R.F.
Hello Delores. 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.
Delores C.
I have not recieved any increase in my SSA still I thought Jan but nothing yet. Is there a place online or a phone number I can check ?
michael j.
I only received a %1 cola in 2018. Who can i contact or what can i do?
My monthly receipt was $2020 in year 2017 and increased to $2040 in year 2018. I believe it should be $2060.
Please help if you can.
Michael J Marino Sr.
SSA # *** – ** – ***
email:mmaronosr@gmail.com
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. We do not do direct messaging in this venue. 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.
Just a reminder – Please be cautious about posting personal information on social media and communicating personal information via email. Thanks!
patrick l.
i need a copy of the latest increase in my social security benefit please. I misplaced the one you sent me.
R.F.
Hello Patrick, you can request a benefit verification letter online by using your personal my Social Security account. Thanks!
patrick l.
i misplaced my copy of the letter you sent me for the 2018 increase in my social security benefit. i need a copy of this , i am applying for a refi on my house.
thanks for your help. *** – ** – *** patrick lee stookesberry
patrick l.
i misplaced my copy of the letter you sent me for the 2018 increase in my social security benefit. i need a copy of this , i am applying for a refi on my house.
thanks for your help. *** – ** – ***
Joan P.
If the cost of living went up, doesn’t it go up for everyone? I know of 3 people that got an increase in Jan. of 2018, & neither my husbands or mine went up at all! I thought everyone got a certain petcentage for COL or nobody got it! Is this just another government program getting screwed up by the bureaucrats in DC?
Susan S.
Why didn’t I get a cost of living increase in January.
Donald O.
Why was there a reduction in my social security payments starting in January2018
R.F.
Hello Donald. 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.
DonAld o.
Why was there a reduction in my social security payment starting I January 2018?