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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Lisa
Will start listing the judges names soon
Kelly
Those judges can careless about any one else fucking idiots
Brenda W.
? Take a big ole crapper in there food ?
Tiffany w.
city to city & around the world ?
Rick k.
Poison there drinks
Jerome M.
My cost of living soared considerably more than 2% this year. I hope the COLA will edge closer to the actual increases in the future.
Tyler c.
Put your dick in the judges ass see if you get denied
robert m.
we put in correct info on my wife to create an account and you could not verify finally gave up after three attempts
R.F.
We’re sorry that you had difficulty accessing your account. If you are still having trouble creating or accessing your my Social Security account, please call our dedicated “my Social Security—Hotline”. To reach this hotline, call 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!
william e.
how much do I get per month from my social security ;
Erminda R.
i need a copy of my 2018 award letter for benefits SS # *** – ** – *** DOB MAR. 7,1916
R.F.
Hello Erminda. 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 personal my Social Security account.
Just a reminder – We do not have access to personal information, please be cautious about posting personal information on social media channels. Thanks!
Sandra S.
how do i get a copy of 2018 social security award letter for HUD
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.