when will social security cost of living increase
Social Security cost-of-living increase for 2017: A measly $5 Social Security cost-of-living increase for 2017: A measly $5. The 0.3% hike is the smallest in recent history. U.S. retirees hoping to live comfortably off their Social Security benefits might have to wait a while longer â the average increase in checks for 2017 is a whopping $5. The Social Security Administration said Tuesday that retirees will see their benefits increase by 0.3% in the coming year. For the average American retiree, that equals $5. Known as a cost-of-living adjustment, or COLA, the increase is tied to inflation.