Social Security Announces Benefit Increase for 2026

Source: Social Security Administration

Good news for the 75 million Americans who receive Social Security or Supplemental Security Income (SSI): benefits are getting a 2.8% cost-of-living adjustment (COLA) starting in January 2026. That translates to an average increase of $56 per month for retirees. SSI recipients will see their increased payments as early as December 31, 2025.

This annual adjustment helps benefits keep pace with inflation and is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). For context, the 2025 COLA was 2.5%, and the 10-year average is about 3.1%.

In addition to the COLA, the maximum taxable earnings subject to Social Security tax will increase from $176,100 to $184,500 in 2026.

Starting in early December, the Social Security Administration will begin mailing COLA notices. However, recipients with a my Social Security account can view their updates online sooner and sign up for alerts. If you want to receive your notice online, make sure to set up your account by November 19 at ssa.gov/myaccount.

Medicare-related changes for 2026 will be available separately at medicare.gov and through your my Social Security account later in November.

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