Social Security announces 2.0 percent benefit increase for 2018
October 15, 2017
Monthly Social Security and Supplemental Security Income (SSI) benefits for more than 66 million Americans will increase 2.0 percent in 2018, the Social Security Administration announced today.
The 2.0 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 61 million Social Security beneficiaries in January 2018. Increased payments to more than 8 million SSI beneficiaries will begin on Dec. 29. (Note: some people receive both Social Security and SSI benefits.) The Social Security Act ties the annual COLA to the increase in the Consumer Price Index as determin...