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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Scott M.
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SHARON A.
I’m trying to secure my husband’s 2018 social security benefit letter. We moved and I haven’t been able to locate it. When I put in his information, it won’t process it because he doesn’t have a telephone number. No, the cell phone is in my name and so is the landline. I would appreciate some assistance. Dave is in a nursing home and we are trying to have him accepted as a Medicaid recipient. Thank you for your assistance in this matter.
V.V.
Hi Sharon, thank you for using our blog. Because of privacy and security concerns, you will not be able to conduct Social Security business on behalf of your husband unless you are his representative payee. Having a power of attorney, being an authorized representative, or having a joint bank account with your husband does not authorize you to access information on his Social Security record. If your husband does not have a representative payee and he is not capable of managing and directing his Social Security benefits, someone should consider applying to be his payee. To learn more about becoming a representative payee, you can read our publication, “A Guide for Representative Payees” or visit our Representative Payee webpage. You can also call us at 1-800-772-1213 (TTY 1-800-325-0778) to request an appointment.
If your husband is capable of managing his benefits, he may be able to request his benefit verification letter online. See our Frequently Asked Questions web page for details.
Timothy S.
Hello Mr.Borland,
Thank you so much for your information and taking the time to too care enough about those in need of help, such as my wife Virginia Swann.
I’ve been trying very hard to get something done about her situation for some time now and due to the Emergency in our family involving our loss of two of our grandsons ages 3 and 10 along with our daughter age 33 years old which happened back last November 2017 while we were living in St. Cloud MN.
My wife, Virginia Swann was in progress of the finalization of seeing the doctor and then going to Court.
But due to the extreme nature of everything it caused her to worsen and we now have Custody of the remaining children 2 boys ages 3 and 11 years old. It is too my believe that this is the only thing that is really keeping her able to survive everyday.
My name is Timothy Swann and have been married for over 30 years, she use to be lively and so happy but between the loss, greif, nervous breakdown, and being beating by our grandsons dad severally and having to have a neurosurgeon do back surgery on her and multiple doctor visits every three weeks, I have requested paperwork to be forwarded to our newest address that is located at 75 S. Main Street Dolgeville, New York 13329.
If there is anything that you can do to help me with this situation and her well being, as we have applied for Disability for her it would greatly appreciate by me her husband, Timothy Swann and my wife, Virginia Swann.
My wife Virginia, is very sick in many ways and requires the attention of this by someone in a higher position, such as yourself Mr. Borland.
I’d appreciate any help you can provide in this manner as well understanding as you have mentioned in the above subject matters as well previous newsletters I’ve been reading about you and your care and compassion for those who really need help, not just hearsay to be on Social Security Disability.
Thank you so much for your time and I look forward to hearing from you soon on this matter.
Timothy and Virginia Swann.
Dale w.
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Joey M.
Looking for a payment increase to $1000 able to verify income check stubs and ticket work thankyou.Joey Martinez
V.V.
Joey, thank you for using our blog. For your security, we do not have access to your benefit information in this venue. For further assistance, please call our toll-free number at 1-800-772-1213 (TTY 1-800-325-0778). Representatives are available between 7 a.m. and 7 p.m., Monday through Friday or contact your local Social Security office.
Judy F.
When will the paperwork showing the increase be mailed out to us. Would be nice to know what the increase is going to be for sure to plan for next year.. thank you
R.F.
Hello Judy, if you’re referring to the Cost-of-Living Adjustment (COLA) for 2019, we will know that information in late October, when the increase in the Consumer Price Index as determined by the Department of Labor’s Bureau of Labor Statistics is announced.
As always, we will keep you informed. Thanks!
Marcia B.
I cannot find my mothers my SSA acount she is 87 yrs 10/24/1931 her SSN: *** – ** – ***. She is currently receiving monthly SSA checks. Would you please check to make sure her MY SSA Account is still present
JACQUES H.
PLEASE SEND ME A 2018 AWARD LETTER ,JACQUES HUISWOUD, XXX CLYMER ST BKLYN NY 11249, THANK YOU
R.F.
Hello Jacques. Unfortunately, and because of security reasons we do not have access to personal records in this blog.
You can request a benefit verification letter online by using your my Social Security account. Please be cautious about posting personal information on social media channels. Thanks!