Itís Your Money > Social Security and Pensions

Social Security benefits set to increase by 2.2%

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Good news for the Americans on this forum, every little bit helps.

--- Quote ---Americans receiving Social Security benefits in 2018 can expect to see the program's largest payment increase in years, according to the trustees report released Thursday.

In January, recipients will receive a $28 monthly increase in benefits, which, although amounts to just 2.2%, is much larger than the 0.3% increase in benefits recipients collected this year.
--- End quote ---

Gray Wolf:
Okay, I read the article, and I'm confused. Does everyone get a $28 increase, or do we get a 2.2% increase? It's not the same thing. Even with the average amount they stated, the $28 doesn't add up to 2.2%.
I've never seen an across the board increase of a specific dollar amount. It's always been a percentage increase.
Whatever we get, I'm looking forward to it! More money for my San Mig and Red Horse fund!  :)

Glad Lee2 you posted something on this, I've forgotten but that increase sure will help us out.

Understand that most recipients that also pay Medicare will see an increase of the cost from $108 to $134.  So that $26 increase will lower the amount of the SS raise.


Well I just got my notice from SS and it says that I will get a 2% increase but then it shows that my Medicare cost went up from $105 to $129, I had taken SS at 62 which was over 7 years ago, so basically it is more or less a wash for me, I wonder how you all made out?


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