COLA

Social Security Benefits to Increase in 2018

October 13, 2017 • By

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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.

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About the Author

Jim Borland, Acting Deputy Commissioner for Communications

Jim Borland, Acting Deputy Commissioner for Communications

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Comments

  1. Marlene G.

    I thought we were suppose to get a 2% COLA. HOW COME I only received three cents!?….instead of $26?

  2. Tony

    I’m trying to find out how to get a copy of the social security award letter.

  3. MIldred A.

    What is my check amount for 2018?

    • R.F.

      Hello Mildred. You can get a benefit verification letter -which shows your current monthly benefit amount-, by using your personal my Social Security account.
      Just a reminder – We do not have access to personal information in this venue. Please be cautious about posting personal information on social media and communicating personal information via email.

  4. Robert R.

    I did not receive the 2.0% increase in my benefits in Jan and on. Why not?

  5. J.C. W.

    I posted it but didn’t get it right – it is above this.
    Please help I am desperate – probably end up in hospital if i do not get calmed down – was told not to put any thing on computer that it is dangerous – to many frauds out there.

  6. J.C. W.

    I withdrew 7K on Sept. 25, 2017 from my IRA because of attorney fees & house repairs – I just found out I had to withdraw less – the bank who holds my IRA did not tell me this… did not tell me the limit I could draw was less…I am frantic…I am 77 yrs old and terminally ill.

  7. Mary

    Who knows why some people got raises in Social Security Benefits and others did not? I receive a very limited amount of Social Security payment and have received no raise in the last five years, maybe longer. I know of others who receive more than double what I get monthly, and they got a raise. Cost of living, they say? So it costs a person with more money to eat than it cost for one with less money? Can anyone make sense of this?

  8. Rebecca G.

    My ssi check was lower this month. I had received notice of an increase. Why

    • R.F.

      Hi Rebecca. 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.

  9. Peggy A.

    I received my new Social Security benefits for 2018and instead of the 2% raise I got$11.00 deduction and I don’t know why.Everyone I talked to got a increase. Please help me. That k you

    • R.F.

      Hi Peggy! 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.

  10. Lynn W.

    my SS check for Nov Dec Jan and Feb are the same and show no increase for cola.

    • R.F.

      Hi Lynn. 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.

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