Aging Services News
Friday, 17 November 2017 11:32

Social Security announces 2.0 percent benefit increase for 2018

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 on October 13, 2017.

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 December 29, 2017 (Note: some people receive both Social Security and SSI benefits).  The Social Security Act provides for how the COLA is calculated.  To read more, please visit www.socialsecurity.gov/cola.

Source: https://www.ssa.gov/news/

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