US Social Security Announces 0.3 Percent Benefit Increase for 2017

[ubonjoe]

Monthly Social Security and Supplemental Security Income (SSI) benefits for more than 65 million Americans will increase 0.3 percent in 2017, the Social Security Administration announced today.

 

Source press release by SSA dated 18 Oct. 2016. Full story:  https://www.ssa.gov/news/#/post/10-2016-1

[wayned]

Finally with this year's SSA increase I will be able to pay off the loan on my house!!!

[ubonjoe]

10 minutes ago, wayned said:

Finally with this year's SSA increase I will be able to pay off the loan on my house!!!

Sure you will. 

At least I will be able to put a different amount on my income affidavit next year. Two years with the same number was boring.

[MrBrad]

For most retirees the increase will be about $4 a month, they say.

[theguyfromanotherforum]

For most retirees the increase will be about $4 a month, they say.

That's about 78 British pounds. Not bad.

[MrBrad]

9 hours ago, theguyfromanotherforum said:

 

That's about 78 British pounds. Not bad.

Something's wrong here.  $4 (four dollars or 140 baht) is only a bit more than 3 pounds.  That doesn't do much to make life more comfortable for us oldtimers.  But it's a fill of the gas tank on the motorcycle and a 10 baht ice cream cone at KFC.  Dasn't look a gift horse in the mouth, as they say.

[Gary A]

Not much but better than a reduction.

[Pib]

All that has to be done say to get the yearly COLA increase up to around 10% is get across the board inflation up to 10%.  But if the COLA increases by 10% while cost of products/services also goes up by 10% then I really didn't gain any money after all the bills are paid.  Oh well.

[IMA_FARANG]

At an exchange rate of roughly 35 Baht for one dollar, our annual "cost of living" increase is only about 150 baht a month.

The so called "American Breakfast" where i live costs 180 Baht.

 

 

 

[1900]

20 bucks for me.  That should keep me in ciggies for five days.

[taxout]

Keep in mind, too, that if you've taken the advice the Social Security Administration and its cheerleaders have been peddling in the press for many years -- Wait to Take Your Social Security! -- then you'll be even worse off, because the hold-harmless rule won't apply and your Medicare Part B premiums will increase a lot more than if you'd taken early Social Security.

[IMA_FARANG]

At one time I recieved these notifications by mail at my Thai mailing address each year.

i understand that is no longer the case, the last one was for 2016 for which there was no COLA increase.

However my part B co-payment was increased.

Is it true that they no longer mail such notifications outside the U.S. ?

I suppose I shall  find out soon enough.

Because I do not have a U.S. mailing address I have been told the Social Security will NOT allow me to establish a on-line  contact direcly with the Social Security Administration on its computer sysetem for "security" reasons.

Through Email contacts with the SSA in Manila I have been assured that the SSA will not stop mailing notifications to Social Security recipients outside the U.S. (as my Thai mailing address).

However after years of exxperience with the U.S. government and its organizations I have become deeply sceptical of what I am being told by any U.S. government sources.

Hopefully, i will be proven wrong about that.

The statement detailing how much I ecieve each month may not be "official" but it is a good thing to show Thai immigration if they ever ask for documentattion.

Just nice to have as secondary proof, if requested.

At least my benefits are still arriving each month on schedule as of November 2016.

it is just i have ben told so much misinformation I no longer believe any authorities.

 

 

 

 

[Pib]

5 hours ago, taxout said:

Keep in mind, too, that if you've taken the advice the Social Security Administration and its cheerleaders have been peddling in the press for many years -- Wait to Take Your Social Security! -- then you'll be even worse off, because the hold-harmless rule won't apply and your Medicare Part B premiums will increase a lot more than if you'd taken early Social Security.

That assumes you wait to start taking SS pension benefits beyond the age of 65 when you can first sign up for Part B.