Social Security benefits will rise 2.8% in 2026

COST-OF-LIVING INCREASE

Social Security benefits and Supplemental Security Income for 75 million Americans will increase 2.8% in 2026.

By law, federal benefits increase when the cost of living rises, known as a cost-of-living adjustment (COLA).

The increase will take effect in January 2026, when the average monthly Social Security check for retired workers will go from $2,015 to $2,071—a $56 increase—according to the Social Security Administration.

The COLA follows this year’s 2.5% increase, which was the smallest in four years. The annual COLA is based on a Labor Department inflation measure that tracks how much Americans paid for a range of goods and services in the third quarter, compared with a year ago.

Inflation this year has been far below the surge that pushed the COLA to 8.7% in 2023, its highest in more than four decades.