Social Security announces 2.8% benefit increase

The Social Security Administration (SSA) has announced that Social Security benefits, including Old-Age, Survivors, and Disability Insurance (OASDI), and Supplemental Security Income (SSI) payments for 75 million Americans will increase 2.8% in 2026. On average, Social Security retirement benefits will increase by about $56 per month starting in January.

According to the Social Security Administration, over the last decade the cost-of-living adjustment (COLA) increase has averaged about 3.1%. The COLA was 2.5% in 2025.

Nearly 71 million Social Security beneficiaries will see a 2.8% COLA beginning in January 2026. Increased payments to nearly 7.5 million people receiving SSI will begin on Dec. 31. (Some people receive both Social Security benefits and SSI).

Other adjustments that take effect in January of each year are based on the increase in average wages. Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) is slated to increase to $184,500 from $176,100.

Social Security begins notifying people about their new benefit amount by mail starting in early December.

Similar to last year, Social Security beneficiaries will receive a simplified, one-page COLA notice, which uses plain and personalized language, and provides exact dates and dollar amounts of an individual’s new benefit amount and any deductions.

Individuals who have my Social Security accounts can view their COLA notices online, which is secure, easy, and faster than receiving a letter in the mail, according to the Social Security Administration. Account holders can set up text or email alerts when they receive a new message, such as their COLA notice.

To receive a COLA notice online, individuals will need to create or sign in to their personal My Social Security account and opt out of paper notices by Nov. 19.

For Medicare enrollees, the 2026 premium amount will be available via my Social Security Message Center starting in late November. Individuals who have not opted to receive messages online will receive their COLA notice by mail in December.