Social Security checks to increase 2 percent in 2018

Social Security recipients will get a 2% increase in benefits in 2018.

The cost-of-living adjustment (COLA) covers more than 61 million Social Security beneficiaries and more than 8 million recipients of Supplemental Security Income benefits.

The boost is the highest since a 3.6% bump in 2012. The average person will get about $25 more a month. The average monthly Social Security payment is $1,258, or about $15,000 a year.