In case you missed it, the Cost of Living Adjustment (COLA) will be 2% in 2018 which is the first substantial increase in years. This means the monthly Social Security and Supplemental Security Income (SSI) benefits for more than 66 million Americans will increase 2.0 percent in 2018.
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 COLA for Retired military veterans, VA rates for compensation and pension for disabled veterans and surviving families will be effective December 1, 2017 and will be reflected on the first check to be paid on December 31, 2017.
· Social Security benefits will be effective beginning with the December 2016 benefits, which are payable in January 2018.
| July 1975 — 8.0% July 1976 — 6.4% July 1977 — 5.9% July 1978 — 6.5% July 1979 — 9.9% July 1980 — 14.3% July 1981 — 11.2% July 1982 — 7.4% January 1984 — 3.5% January 1985 — 3.5% January 1986 — 3.1% January 1987 — 1.3% January 1988 — 4.2% January 1989 — 4.0% January 1990 — 4.7% January 1991 — 5.4% January 1992 — 3.7% January 1993 — 3.0% January 1994 — 2.6% January 1995 — 2.8% January 1996 — 2.6% January 1997 — 2.9% |
January 1998 — 2.1% January 1999 — 1.3% January 2000 — 2.5%(1) January 2001 — 3.5% January 2002 — 2.6% January 2003 — 1.4% January 2004 — 2.1% January 2005 — 2.7% January 2006 — 4.1% January 2007 — 3.3% January 2008 — 2.3% January 2009 — 5.8% January 2010 — 0.0% January 2011 — 0.0% January 2012 — 3.6% January 2013 — 1.7% January 2014 — 1.5% January 2015 — 1.7% January 2016 — 0.0% January 2017 — 0.3% January 2018 — 2.0% |
| (1) The COLA for December 1999 was originally determined as 2.4 percent based on CPIs published by the Bureau of Labor Statistics. Pursuant to Public Law 106-554, however, this COLA is effectively now 2.5 percent. | |