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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Thank y.
How does one get a copy of the Form SSA-4926-SM for 2018 listing “Your New Benefit Amount”? I received mine around 12/18/2017 but I have misplaced it. Do you need my Social Security Number? Address is 1105 Balmora St., Lafayette, CO
80026
Julià P.
I’ve never received the COLA increase in my benefits for 2018
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 or later in the week. Thanks.
Francis F.
I cannot find my 2018 award statement. I am applying for a line of credit through TD Bank. They need three(3) years of award letters. I do not have 2018. I tried accessing my account with Social Security but was locked out after 3 attempts. How can I get a copy of it ASAP as my loan application is being held up!
R.F.
For assistance with my Social Security account issues, call our dedicated my Social Security-Hotline, 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!
Rolando N.
please review my total contribution in 2017 cause I think should be getting more than what you are giving me today. I’m Rolando Noriega I think you deducted a lot from my pay check.I’m currently working part time at Enterprise rent a car and Hertz rent a car.Thank you. My email is rpnoriega@yahoo.com
R.F.
Unfortunately, but for security reasons, we do not have access to personal records in this blog, therefore, we do not do direct messaging in this venue.
Generally, if you continue to work while receiving retirement benefits, your monthly benefit amount could increase. However, keep in mind that for retirement benefits, we base your benefit payment on your highest 35 years of earnings. If your earnings for the prior year are higher than any of the years that were used to compute your retirement benefit, we will recalculate your benefit amount. If an increase is due, a new monthly benefit amount is established on your record automatically.
You may 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!
Please be cautious about posting personal information on social media and communicating personal information via email.
Mary W.
Did not receive cola raise this year. Would like to know why?
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 or later in the week. Thanks.
Philip B.
How do I get a copy of Form SSA-4926 sm (1-2018). For both my Mother-in-law and Father-in-law. She is a full time resident in the nursing home. Very soon he be a full time resident in the Soldiers Home.
Isabella A.
i did not receive a 2018 social security increase. Why?
R.F.
Hello Isabella. 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.
Lilian B.
I’m trying to find out the exact date that it was approved for the 2% increase in January. I’m not sure I’m getting my increase
Christine B.
need copy of my social security benefits 2018
R.F.
Hi Christine, if you need proof you get Social Security benefits, Supplemental Security (SSI) Income or Medicare, you can request a benefit verification letter online by using your my Social Security account.
In April we celebrate “National Social Security Month”, see what you can do online at http://www.SocialSecurity.gov. Thanks!
Gordon B.
it isn’t fair that the only raise we get is put into medicare and that isn’t enough to see a difference in pay check we all need extra money like everyone else what is with that were we forgotten about ???