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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Kyle
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Brandon
If your scolded or denial start poisoning people’s drinks?
Kristy
Yes see if they ever scold you again mix poison in there drinks?I bet they won’t
Franky D.
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KRISTY
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Samuel C.
I am applying for a mortgage and they want a copy of an awards letter. I do not know what it is.
R.F.
Hello Samuel. 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. This letter is sometimes called a “proof of income letter,” or a “proof of award letter.” Thanks!
Jacob s.
You need to tell those fuck face judges to suck your dick and lick your balls when they deny
You
Robert.Bartolotta
Will we see a raise in social security, for 2019?
R.F.
Hello Robert, if you’re referring to the Cost-of-Living Adjustment (COLA) for 2019, we will know that information later this month, 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!
Paul S.
I need copies of 2018 SS Benefit award letters for my self and my wife in order to qualify for heat help thru Action.
V.V.
Hi Paul, 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.
Trisha W.
? Drano or sulfuric acid ?
Blind mans bluff