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. Kathrin W.

    What month does the increase take affect? Thank you

  2. Judith A.

    I was getting $700 a month before the 2% increase. I only received $713 increase. I filled out the paperwork questioning this, but did not get a reply. I thought that I was to get $714. I did not go over the limit of working $.

  3. Connie

    Then why did I get a letter that they made a mistake and cut back my check to 1k a month? How am I supposed to live on that? The took over 100 dollars away from me and I couldn’t make it in that. I have to work till I die. I’m 67 with cancer and have to work full time

  4. sherry c.

    when I try to log in and get the code my computer is to slow to get to my email then sign back in.

    • R.F.

      Hi Sherry, if you are unable to create an account or encounter a problem with your my Social Security account, you may:
      •Call us at 1-800-772-1213 (TTY 1-800-325-0778), Monday through Friday from 7 a.m. to 7 p.m. At the voice prompt, say “helpdesk”; or
      •Contact your local Social Security office. Thanks!

  5. matthew j.

    i need form SSA 4926-SM-DI…. for senior housing people. how d I get it? who to call? anyway, thanks, matthew j bard *** – ** – ***

  6. Francis E.

    Cola is a joke. A CPI-W system made up by the government for the government and cheats every retired member on real economy growth. I have not seen a pay raise since 2012, in fact its more of a pay cut. My check gets smaller and smaller every year while everthing else goes up and up in cost; where’s the raise? And its strange how medicare seems to increase rates about as much as my so called pay raise. We really need to get the swamp cleared up, and fast.

  7. Christine C.

    How do I know if I am getting an increase for 2018? My payments have not changed at all this year

  8. Dana J.

    I have not received an increase (COLA) for 2018 I wonder why?? Have not been able to reach anyone on this

    • R.F.

      Hello Dana. 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.
      Or contact your local Social Security office directly. Thanks!

  9. Dennis J.

    In order to secure a mortgage the bank requires a copy of the notification of the 2018 benefit increase. How do we secure same.

    Dennis J Perry
    Patricia C Perry

  10. Jennie D.

    Why haven’t I received an increase in my social security benefits for 2018?

Comments are closed.