Social Security 2026: Maximum possible benefit amounts at ages 62, 67 and 70 after the 2.8% COLA increase

The Social Security Administration‘s 2.8% cost-of-living adjustment (COLA) for 2026 will raise benefit amounts for retirees, increasing both the average monthly payment and the maximum benefits available to workers who retire at ages 62, 67, and 70.

The 2026 COLA, announced on October 24, will increase benefits beginning in January. The change follows an inflation-based review designed to preserve the purchasing power of Social Security payments.

Although delayed slightly due to the federal government shutdown, the SSA confirmed that the maximum benefit for those retiring at full retirement age will climb from $4018 in 2025 to $4152 per month in 2026 – an annual total of $49,824.

The adjustment also affects related thresholds, including taxable earnings limits and retirement earnings tests and this year’s announcement also introduced higher income limits for individuals who continue working while collecting benefits.

These thresholds determine how much income beneficiaries can earn before facing temporary reductions in payments.

The 2.8% COLA means millions of retirees will see a boost in their monthly checks. The average benefit for all retired workers will rise from $2,015 in 2025 to $2071 in 2026. Meanwhile, the average benefit for disabled workers will grow from $1586 to $1630.

Other household benefit categories will also see increases. For example, an aged couple receiving benefits will see average payments rise from $3120 to $3208 per month, while widowed parents with children will receive about $3898, up from $3792.

Full retirement age (FRA) remains the point at which beneficiaries receive 100% of their earned benefits. Individuals born in 1959 will reach FRA at 66 years and 10 months, while those born in 1960 or later will reach it at 67.

Workers may claim benefits as early as 62, though doing so results in permanent reductions. For 2026, the maximum monthly benefit for someone claiming at age 62 will be about $2,910, while waiting until age 70 could yield as much as $5251 per month.

In 2026, workers under full retirement age can earn up to $24,480 annually ($2,040 monthly) without reductions. Beyond that, $1 in benefits is withheld for every $2 earned above the limit.

Those reaching FRA in 2026 face a higher cap of $65,160 annually ($5430 monthly), with $1 withheld for every $3 exceeding the threshold.

How do I qualify for the maximum benefit?

To qualify for the highest possible Social Security benefit, workers must meet strict conditions. They need 35 years of Social Security-covered employment, earning at or above the taxable maximum each year.

The maximum taxable earnings level is $176,100 and income above this amount is not subject to Social Security taxes. According to SSA data, only about 6% of U.S. workers earn this much in any given year, and far fewer sustain it over 35 years.

Delaying benefit claims beyond full retirement age can significantly increase monthly payments. Retirees gain approximately 8% in additional benefits for every year they wait, up to age 70. After that, delayed retirement credits stop accumulating.

For most Americans, even if they do not qualify for the maximum payout, the 2.8% COLA ensures an across-the-board increase in income.

The average retired worker’s monthly benefit is projected to rise to roughly $2071 in 2026 – a modest but meaningful boost amid continuing inflation.

The COLA adjustment underscores the Social Security program’s role as a stabilizing force for retirees, providing inflation-protected income at a time when living costs remain unpredictable.