Social Security Benefits to Increase in 2018

Social Security checks are set to increase by 2 percent in 2018, according to a Social Security Administration announcement.

In a statement, the SSA said the cost-of-living adjustment will begin in January for Social Security beneficiaries, SSI beneficiaries will begin on December 29, 2017. The 2 percent increase amounts to an average of $27 more per month.

The SSA said out of an estimated 175 million American workers who pay Social Security taxes in 2018, about 12 million will pay more due to the increase.