Social Security Benefits Set to Rise 2.8% in 2026
Big news for Social Security recipients: a 2.8% increase in benefits has been announced for 2026. This adjustment, officially known as the cost-of-living adjustment or COLA, is designed to help benefits keep pace with inflation and the rising costs of everyday living. It may not completely offset expenses for many seniors, but it is a meaningful boost nonetheless.
On average, retirees will see their monthly Social Security payments go up by about $56 starting in January. This follows a 2.5% increase in 2025 and is slightly below the average COLA of 3.1% that has been typical over the past decade. The calculation for this adjustment is tied to the Consumer Price Index for Urban Wage Earners and Clerical Workers, measured during the third quarter of the year. Inflation has slowed down compared to the record highs experienced in 2022, which explains why the increase isn’t larger.
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Approximately 71 million Americans receiving Social Security will benefit from this adjustment, while nearly 7.5 million people receiving Supplemental Security Income (SSI) will see their payments increase starting December 31, 2025. For those who qualify for both programs, both payments will reflect the COLA increase. The Social Security Administration emphasizes that this annual adjustment is a key part of fulfilling its promise to provide economic security to millions of Americans.
In addition to benefit increases, other Social Security limits are being adjusted for 2026. The maximum amount of earnings subject to Social Security taxes will rise to $184,500 from $176,100. This ensures that the system remains in line with wage growth across the country.
Recipients can expect to be notified about their new benefit amounts starting in early December. Those with a personal “my Social Security” account will have the option to view their COLA notice online, which is faster and more secure than waiting for a mailed letter. Alerts can also be set up via email or text to ensure beneficiaries don’t miss the update. For those without an online account, notices will still arrive by mail in December.
Social Security Commissioner Frank J. Bisignano underscored the importance of these adjustments, saying that the COLA is a vital way the program continues to provide a foundation of financial security in today’s economic climate. While the increase may feel modest to some, it reflects the commitment of the Social Security Administration to adjust benefits in line with economic realities and to support millions of Americans in maintaining their financial stability.
This increase marks another step in ensuring that Social Security remains a reliable source of income for retirees and those in need, even as the cost of living continues to evolve.
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