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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Heather H.
I need a Award letter for my landlord for my goverment housing and for my rent
BRIAN B.
?Take a big pisss in the judges mouth serves you right ass hole??
BOB ..
I hope someone changes the sticker label on your blood bag you fucker!!!!
Joyce S.
I need social security benefits statement (award letter) 2018.
R.F.
Hello Joyce. 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. Thanks!
BOB ..
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Kyle
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Bishop
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Tyrone
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Dennis h.
Next time I certainly won’t tell u people
Bill W.
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Kenneth B.
The judges acted like they wanted to put there dick in my mouth not happy
Dennis h.
I’ve been trying to kill off these niggers for several years”
Dennis H.
Hello, I am collecting S.S. now & I am 66 yrs. old. I was told I could now earn around $44,000. a yr. without effecting my monthly.
The question I have is I am now earning around $ 30,000. driving school bus. Will my monthly S.S. go up since I contribute into the S.S. Tax out of my weekly pay checks. Any light on this will be appreciated.
Robert n.
These people literally put my stuff threw the shredder there’s hell to pay
R.F.
Great question, Dennis. Each year, we review the records for all working Social Security recipients to see if additional earnings may increase their monthly benefits.
When you apply for retirement benefits, we base your benefit payment on your highest 35 years of earnings and your age when you start receiving benefits. If your earnings for the prior year are higher than one of the years we used to compute your retirement benefit, we will recalculate your benefit amount.
If an increase is due, a new monthly benefit amount is established on your record automatically. See “Getting Benefits While Working” for more information. Thanks!