Tags: social security | benefits | 2018 | 2 percent

Social Security Benefits to Rise in 2018: 2 Percent

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Friday, 13 Oct 2017 12:26 PM

Social Security benefits will rise in 2018 for millions of retirees and other recipients with a 2 percent cost-of-living increase, the largest since 2012. It amounts to $25 a month for the average beneficiary.

The Social Security Administration announced the cost-of-living increase Friday, per The Associated Press.

The COLA affects benefits for more than 70 million U.S. residents, including Social Security recipients, disabled veterans and federal retirees. That's about one in five Americans.

By law, the COLA is based on a broad measure of consumer prices generated by the Bureau of Labor Statistics. Advocates for seniors claim the inflation index doesn't accurately capture rising prices faced by seniors, especially for health costs.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
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Social Security benefits will rise in 2018 for millions of retirees and other recipients with a 2 percent cost-of-living increase, the largest since 2012. It amounts to $25 a month for the average beneficiary.
social security, benefits, 2018, 2 percent
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2017-26-13
Friday, 13 Oct 2017 12:26 PM
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