COLA

Social Security Benefits to Increase in 2018

October 13, 2017 • By

Reading Time: 1 Minute

Last Updated: October 13, 2017

man and woman outside smiling 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.

Did you find this Information helpful?

Yes
No
Thanks for your feedback!

Tags: ,

See Comments

About the Author

Jim Borland, Acting Deputy Commissioner for Communications

Jim Borland, Acting Deputy Commissioner for Communications

Related Articles

An Increase in Social Security Benefits in 2017

2015: The Year In Review

No Cost-of-Living Adjustment for 2016

Social Security Benefits Increase in 2021

Comments

  1. MARK ).

    ? ….? …. ?….?

  2. Craig M.

    . ? . ? . ? . ?.

  3. Lauren i.

    I need to know about my award letter how do I get in touch with you.

  4. Lauren i.

    Hello I need to know about my award letter who do I contact.

    • V.V.

      Hi Lauren, 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. 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.

  5. Kristy S.

    N I G G E R S K I L L I N G O F F N I G G E R S A N D R U N N I N G O F F

  6. Tyrone W.

    I WANT TO SEE OTHER PEOPLE PURPOSELY SCREWING OTHER PEOPLE WHEN THEYVE BEEN SCREWED THEMSELVES now you let your judges know this

  7. BILL B.

    Treat other people like they’ve treated you like
    S H I T And that’s the truth

  8. BILL B.

    When these JUDGES screw you out of your life savings you should be pissing all over in there food and drinks to screw them back treat them like you would any other other//// N I G G E R ——straight nigger that’s how we’ve been treated all along ——/—-//—(

  9. Bill b.

    Spit all over the judges food when they deny you

  10. Ben S.

    ?When the judges purposely screw you out of your life savings )) I say let’s start purposely screwing other people start with killing off the NIGGERS that’s a start ?

Comments are closed.