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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Carol C.
Need Awards letter
R.F.
Hello Carol. 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. Thanks!
kenneth b.
am i able to receive ssi, i am a disabled vet?
kenneth b.
i am not aware of a cola that i have received , could you check into it. i also have been made aware that i may receive an increase in SSI, because i am a disabled veteran, could you also please check into this for me.
thank you
kenneth boren
Mary A.
When I started receiving social security, I applied at 55 and received $500.00. I went back to work and have been working 10 more years now. Will my benefits increase when I retire again?
MARIA L.
I’m requesting an award for Carlos Rodriguez 8/19/1964 I’m his benificary need it ASAP my home address is 346 E 156 ST. #2D Bronx NY 10451
Thank you
Maria L. Rodriguez
R.F.
Hello Maria. We do not have access to personal information in this venue, beneficiaries or their representative payees can get a benefit verification letter or “award letter” by calling our toll free number at 1-800-772-1213, Monday through Friday, between 7 a.m. and 7 p.m. or by contacting their local office. The letter will be mail to the address on the record.
Just a reminder – Please be cautious about posting personal information on social media channels. Thanks!
Sandra P.
Will my ex spouse benefit part come in a separate check from my own benefit? Will I receive 2 deposits?
R.F.
Thank you for your question, Sandra. If you qualify for benefits on your own record and benefits as a divorced spouse, we will pay your retirement benefit amount first. If the benefit on your ex-spouse’s record is higher, you’ll get an additional amount on your spouse’s record so that the combination of benefits equals that higher amount. You will get -only- one payment.
Leta J.
need a copy of award letter 2018 for nursing home admitting. Carmel, Indiana
J
Come back shoot you in your head
Chris h.
What is the earnings for 2017
R.F.
Hello Chris. For 2018, and if you are under full retirement age for the entire year, the earning’s limit is $17,040. See “Getting Benefits While Working” for complete information on this topic. Thanks!
Tyler
In our state we only kill the judges under denials we put a shot gun next to there head ??We don’t only kill off the niggers ?
Mike c.
How come nobody’s randomly going around shooting judges in there head just my 2 cents worth. ?