US Social Security increase for 2017

[Suradit69]

If you're planning on an increase in line with actual cost of living inflation, don't hold your breath. And if you're having Medicare payments deducted ...

 

 

Quote

 

Average retiree will see Social Security benefit decrease

Those in retirement who are receiving Social Security benefits and are enrolled in Medicare may want to sit up and take notice of the latest Medicare Board of Trustees report released this month, as their Social Security benefit may be adversely affected.

 

At the same time, the Social Security Board of Trustees is also calling for a 0.2 percent cost-of-living adjustment (COLA) in 2017 for retirees who are receiving Social Security benefits.

 

For the average retiree who is collecting the average Social Security benefit of $1,335 per month, this COLA increase means their Social Security benefit will rise by $2.67 a month.

 

 

Read the whole article:   http://www.cnbc.com/2016/08/22/average-retiree-will-see-social-securtiy-benefit-decrease.html

[Scotwight]

If living in Thailand with no medicare the SS payment goes up not down.  

[Suradit69]

7 minutes ago, Scotwight said:

If living in Thailand with no medicare the SS payment goes up not down.  

 

Yes, by an average of $2.67 (about 90 baht) per month, as stated in the quote above and in the article I linked.

I wonder how many of us spend only Baht 90 a month more on basic living expenses from one year to the next.

I quoted the title from the article, which implies for the average US retiree it could actually decrease. 

Edited August 23, 2016 by Suradit69

[tonray]

35 minutes ago, Scotwight said:

If living in Thailand with no medicare the SS payment goes up not down.  

Many pay for MEdicare just in c need to return to the motherland someday. Otherwise it comes at a greater cost down the line.

[Scotwight]

39 minutes ago, Suradit69 said:

 

Yes, by an average of $2.67 (about 90 baht) per month, as stated in the quote above and in the article I linked.

I wonder how many of us spend only Baht 90 a month more on basic living expenses from one year to the next.

I quoted the title from the article, which implies for the average US retiree it could actually decrease. 

This is a Thai forum so you need to figure the average retiree in Thailand not the US to make it relevant to Thai Visa.

[IMA_FARANG]

I am a U.S retiree living on Social Security here in Thailand.

For 2016 there was no 'cost of living" increase in Social Security pension.

I don't believe there will be one for 2017 either.

However in 2015 my medicare/medicaid decduction wen from 99 dollars monthly to 102 dollars monthly.

I get a yearly announcement from the SSA to my Thai mailing address which details what i get for my monthly pension.

As i recall it usually shows up in October each year for the next year.

 

 

[Scotwight]

4 minutes ago, IMA_FARANG said:

I am a U.S retiree living on Social Security here in Thailand.

For 2016 there was no 'cost of living" increase in Social Security pension.

I don't believe there will be one for 2017 either.

However in 2015 my medicare/medicaid decduction wen from 99 dollars monthly to 102 dollars monthly.

I get a yearly announcement from the SSA to my Thai mailing address which details what i get for my monthly pension.

As i recall it usually shows up in October each year for the next year.

 

 

The average recipient of Social Security will receive a slight increase in benefits in 2017, according to projections released Wednesday.

 

http://www.usatoday.com/story/money/2016/06/22/2017-social-security-cola/86241140/

[Fookhaht]

8 minutes ago, IMA_FARANG said:

I am a U.S retiree living on Social Security here in Thailand.

For 2016 there was no 'cost of living" increase in Social Security pension.

I don't believe there will be one for 2017 either.

However in 2015 my medicare/medicaid decduction wen from 99 dollars monthly to 102 dollars monthly.

I get a yearly announcement from the SSA to my Thai mailing address which details what i get for my monthly pension.

As i recall it usually shows up in October each year for the next year.

 

 

When was the last time you received a printed announcement sent to your Thai mailing address?   I am asking, because the last notice I got was several years ago, and I read online at the SS website, that they are discontinuing mailing out these yearly notices by mail to foreign addresses, in favor of the online account to keep track of SS details (which we foreigners cannot access anyway!).  

[Suradit69]

34 minutes ago, Scotwight said:

This is a Thai forum so you need to figure the average retiree in Thailand not the US to make it relevant to Thai Visa.

 

I was quoting an article. I can't alter the original article to suit each reader.

There are retirees in Thailand who do maintain Medicare either because they spend part of the year in the US or plan to return at some point.

Certainly you can read the original article and take from it what is applicable to you. I doubt there are any reports that apply specifically to a certain segment of the population who live in Thailand. If you can find one, please start your own thread and post that.

 

I live in Thailand and found the article to be of interest since it made clear my SS payments would increase by 0.2%.

 

It never ceases to amaze me what some people find to be fodder for complaints.

Edited August 23, 2016 by Suradit69

[Baht Man]

20 hours ago, Scotwight said:

This is a Thai forum so you need to figure the average retiree in Thailand not the US to make it relevant to Thai Visa.

So if the majority of retirees here are THAI, one should not post about expats income???

[flexomike]

20 hours ago, Suradit69 said:

 

I was quoting an article. I can't alter the original article to suit each reader.

There are retirees in Thailand who do maintain Medicare either because they spend part of the year in the US or plan to return at some point.

Certainly you can read the original article and take from it what is applicable to you. I doubt there are any reports that apply specifically to a certain segment of the population who live in Thailand. If you can find one, please start your own thread and post that.

 

I live in Thailand and found the article to be of interest since it made clear my SS payments would increase by 0.2%.

 

It never ceases to amaze me what some people find to be fodder for complaints.

Wow, add that .2 along with the Baht rate going down, not good for pensioners, I guess I will have to cut my ice cream consumption

[Suradit69]

21 hours ago, Fookhaht said:

When was the last time you received a printed announcement sent to your Thai mailing address?   I am asking, because the last notice I got was several years ago, and I read online at the SS website, that they are discontinuing mailing out these yearly notices by mail to foreign addresses, in favor of the online account to keep track of SS details (which we foreigners cannot access anyway!).  

 

I access "my account" every year and request that they send a statement that I can use to back up my income claim for annual retirement extension. I also have been receiving a statement automatically every year. I know I can get the US embassy income affidavit without proof, but I like to have something to verify what I am claiming.

 

They were planning on requiring you to receive a security number by SMS every time you wanted to access your account, which would be impossible for those of us living overseas, but they seem to have backed off from that. I got an email which said, in part:

 

Quote

 

On July 30, 2016, we began requiring you to sign into your my Social Security account using a one-time code sent via text message. We implemented this new layer of security, known as “multifactor authentication,” in compliance with a Presidential executive order to improve the security of consumer financial transactions.  SSA implemented the improvements aggressively because we have a fundamental responsibility to protect the public’s personal information.

 

However, multifactor authentication inconvenienced or restricted access to some of our account holders. We’re listening to your concerns and are responding by temporarily rolling back this mandate.

 

As before July 30, you can now access your secure account using only your username and password. We highly recommend the extra security text message option, but it is not required. We’re developing an alternative authentication option, besides text messaging, that we’ll begin implementing within the next six months.

 

 

Edited August 24, 2016 by Suradit69

[Fookhaht]

41 minutes ago, Suradit69 said:

 

I access "my account" every year and request that they send a statement that I can use to back up my income claim for annual retirement extension. I also have been receiving a statement automatically every year. I know I can get the US embassy income affidavit without proof, but I like to have something to verify what I am claiming.

 

They were planning on requiring you to receive a security number by SMS every time you wanted to access your account, which would be impossible for those of us living overseas, but they seem to have backed off from that. I got an email which said, in part:

 

 

Thanks.  Very helpful background.  

To open a "my Social Security" online account, you have to have a U.S. mailing address:

You've had no problem with providing S.S. with two mailing addresses  (your U.S. address, and your Thai mailing address at which you receive the printed document)?   Or do you have to receive all documents at your U.S. mailing address only?

I also have a U.S. mailing address, but had to give S.S. my Thai mailing address (and verify Thai residency) in order to set up S.S. benefit deposits to Bangkok Bank (for transfer to Thailand).    I was concerned that giving a U.S. mailing address when opening a "my Social Security" online account ALSO would muck up things.   Is this a valid concern?  

Thanks in advance for clarifying.

 

[ubonjoe]

22 hours ago, Fookhaht said:

When was the last time you received a printed announcement sent to your Thai mailing address?   I am asking, because the last notice I got was several years ago, and I read online at the SS website, that they are discontinuing mailing out these yearly notices by mail to foreign addresses, in favor of the online account to keep track of SS details (which we foreigners cannot access anyway!).  

I got the letter stating my income for this year in December of last year with no the no COLA increase notice on it. The annual statement came in early February of this year.

[Fookhaht]

3 minutes ago, ubonjoe said:

I got the letter stating my income for this year in December of last year with no the no COLA increase notice on it. The annual statement came in early February of this year.

OK, I think we're talking oranges and apples.  My mistake.  I was referring to the annual letter & newsletter I used to get from S.S. stating the PROJECTED benefits I would have at retirement time.  Those stopped coming about 3-4 years ago.  

Incidentally (and referring to an earlier question of mine):  Do you receive your letter at your Thai or U.S. mailing address?  If Thai address, do you also provide them with a U.S. mailing address in order to access your S.S. data online?   

[IMA_FARANG]

First of all, this topic was started for U.S citizens who recieve U.S. Social Security pensions.

That is it's topic, and it has nothing to do with Thai retirees and Thai Social Seurity.

As i stated I live in Bangkok, and was recieving a yearly statement of my U.S. Social Security benefits (pension) at my Thai mailing address.

The last one I recieved was for year 2016, and i recieved it sometime in November 2015, if I recall correctly.

Apparently i will not get one for year 2017, if what I hear is correct.

The SSA will NOT ALLOW me to open an on-line account unless I have a U.S. address.

i have gone around with them before on that issue, even filed a complaint.

The only reply i got to my complaint wa that the matter was "under consideration".

I know that is just official bla-bla language for "won't do anything".

For your info, i have a direct deposit  paid monthly to my Thai Bangkok Bank account from the SSA international services in Baltimore and I recieved my last funds transfer on time on 4 August 2016.

 

 

Edited August 24, 2016 by IMA_FARANG

[ubonjoe]

23 hours ago, Fookhaht said:

OK, I think we're talking oranges and apples.  My mistake.  I was referring to the annual letter & newsletter I used to get from S.S. stating the PROJECTED benefits I would have at retirement time.  Those stopped coming about 3-4 years ago.  

Incidentally (and referring to an earlier question of mine):  Do you receive your letter at your Thai or U.S. mailing address?  If Thai address, do you also provide them with a U.S. mailing address in order to access your S.S. data online?   

I get every thing here at my Thai address. I applied for social security while here.

I have not signed up for the SS online since it became possible to do from here. Been reluctant to do it because of the US address requirement. Worried it could create problems plus I don't really see a need for doing it. The only thing that I have needed to do that could be done online since starting SS was an address change and that was easy to do by email to the Manila office.

[Boon Mee]

On 8/23/2016 at 0:35 PM, Fookhaht said:

When was the last time you received a printed announcement sent to your Thai mailing address?   I am asking, because the last notice I got was several years ago, and I read online at the SS website, that they are discontinuing mailing out these yearly notices by mail to foreign addresses, in favor of the online account to keep track of SS details (which we foreigners cannot access anyway!).  

I get one every year here to my Thai address.

That and the form you have to send back to let them know you're still alive.

[metisdead]

A troll post has been removed.

[JimGant]

Quote

I live in Thailand and found the article to be of interest since it made clear my SS payments would increase by 0.2%.

 

Yes, and if the FX rate increases a baht (from 34.7 to 35.7), your SS payments will increase by 3%. Thus, the expat factor (FX) definitely has more import than the US inflation rate.