Social Security and Supplemental Security Income payments for 75 million Americans will increase by 2.8 percent in 2026, the Social Security Administration announced late last week.
The cost-of-living adjustment, or COLA, will boost the average Social Security retirement benefit by about $56 per month starting in January.
The increase is slightly below the 3 percent inflation rate reported by the Bureau of Labor Statistics on Friday.
The 2.8 percent COLA for nearly 71 million Social Security beneficiaries will take effect in January 2026. Increased payments for approximately 7.5 million Supplemental Security Income recipients will begin on Dec. 31, 2025.
The Social Security Administration Commissioner Frank J. Bisignano noted the importance of the increase.
“Social Security is a promise kept, and the annual cost-of-living adjustment is one way we are working to make sure benefits reflect today’s economic realities and continue to provide a foundation of security,” Bisignano said. “The cost-of-living adjustment is a vital part of how Social Security delivers on its mission.”
The average COLA over the past decade has been around 3.1 percent.
The 2026 adjustment follows a 2.5 percent increase in 2025.
Other program adjustments, which are calculated based on rising average wages, will also take effect in January.
The maximum amount of earnings subject to the Social Security tax, for instance, will rise to $184,500 from $176,100.
Recipients will begin receiving mailed notices about their new benefit amount in early December. Those with a personal “my Social Security” account can view their COLA notice online.
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