Beginning with checks for the month of January, 2018, Social Security beneficiaries will receive a Cost of Living Adjustment of 2.0 percent. People who receive Social Security disability or retirement benefits will see this increase in checks issued after December 1, 2017. People who receive SSI payments will see the increase beginning December 29, 2017.
This change is due to an increase in the Consumer Price Index, as reported by the U.S. Bureau of Labor Statistics. A change in the earnings limit for blind people who receive SSDI benefits will allow them to be able to earn up to $1,970.00 per month without penalty for engaging in substantial gainful employment. This is an increase of $20 per month from the 2017 earnings limit. People with disabilities other than blindness will be able to earn $10.00 more per month without a negative impact on their benefits.
Legislation to provide a similar cost of living increase to those who receive Veterans Compensation and Dependency Compensation, as well as those who receive a clothing allowance from the V A, cleared its last hurdle when the Senate approved the measure. Since the House had approved The bill earlier this year, it was sent on to the White House for the President’s signature. There is widespread bipartisan support for this measure, which mandates that beneficiaries of the compensation programs noted above receive a cost of living adjustment identical to that given Social Security beneficiaries, based upon the Consumer Price Index report. Veterans receiving disability benefits, surviving spouses and children who receive dependency compensation, and veterans who receive a clothing allowance can expect to see a 2.0 percent increase beginning with checks issued after December 1 2017.