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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D O.
I like playing with little boys bottoms
DONALD T.
HAPPINESS IS SLIDING ARE DICK IN YOUR BUTTHOLE & PISSING ON YOUR GRAVE WHEN YOUR 6 FEET UNDER
Ben (.
??S U C K M Y D I C K A S S H O L E S ??
ROD
Suck it hard big brotha
Phyllis J.
COLA raise??? You’ve got to be kidding me. After the Medicare premium increase, there was not one cent of the 2018 COLA increase that went to my Social Security check and I am now in the food-or-health-care group of seniors, but not both, and have age-related illnesses with no where to turn! What has happened to the geriatric population in this country is an abomination. I am in a zero tax bracket at this point and still paying the IRS self-employment taxes. I am 79 years of age and it’s getting to the point where I won’t be able to work too much longer, if even another day. Got any ideas???
B e.
S U C K M Y D I C K A S S H O L E S??
Jnone
Pah-thetic !? are you kidding?! I moved out of homelessness (15 years) on the advice of the “Conventional Medical Community”, now 4 years later
I’m getting evicted – – and BACK to homelessness. I CAN Not wait. All that money (?) – – to myself, no screwy landlord(-s) – – OR – – drunken, sociopathic neighbors.
I am soooo richly blessed, and can not wait for the next bored cop, to roust me or check on my “welfare”
by beating on my car door at 2:00am then 4:00am.
Sleep deprivation – – I just can’t wait !! GOD bless us
one and all, and Tiny Tim, too . .. .. & a Haapppppyy
New Year . .. Sincerely, “you know who” . . .
Ray A.
Did I get COLA in 2018
R.F.
Hello Ray, Social Security beneficiaries received a 2.0 percent cost-of-living adjustment (COLA) in 2018. You can find more details about the 2018 COLA at http://www.socialsecurity.gov/cola. Thanks!
Doug N.
what is eligable age for social security
V.V.
Hi Doug. If you’re asking about Social Security retirement benefits, you may start receiving benefits as early as age 62 or as late as age 70. Monthly benefits are reduced if you start them any time before your “full retirement age”. Your full retirement age depends on your date of birth. It may be between age 66 and 67.
The Benefits Planner: Retirement web page provides detailed information about Social Security retirement benefits.
Barbara B.
I need a Social Security award statement immediately. Please send one for to me at my email.
V.V.
Hi Barbara. You can get a benefit verification letter online instantly by using your personal my Social Security account. This letter is sometimes called a budget letter, a benefits letter, a proof of income letter or a proof of award letter. To set up your account, visit the my Social Security web page and select, “Sign In or Create an Account.” You will need to provide some personal information to verify your identity, choose a username and password and follow the rest of the steps to finish creating your account. Once you create your account, scroll down to the Benefits and Payments section and choose “get benefit verification letter” where you can instantly view, print, or save your official letter. If you are unable to create an account or encounter a problem, 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 you can contact your local Social Security office.
D O.
You ball licker you
richard
they always say we get a raise but it always goes to health care, sometimes they even take more. I served my country for 6 years in the reserves only ask for help of cost of health insurance. someone else never served or worked and gets it free .Why did I work hard and save for 50 years and get screwed?
sandra o.
copy of my 2018 award letter
V.V.
Hi Sandra, thank you for your question. You can get a benefit verification letter online instantly by using your personal my Social Security account. This letter is sometimes called a budget letter, a benefits letter, a proof of income letter or a proof of award letter. To set up your account, visit the my Social Security web page and select, “Sign In or Create an Account.” You will need to provide some personal information to verify your identity, choose a username and password and follow the rest of the steps to finish creating your account. Once you create your account, scroll down to the Benefits and Payments section and choose “get benefit verification letter” where you can instantly view, print, or save your official letter. If you are unable to create an account or encounter a problem, 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 you can contact your local Social Security office.