Social Security benefits to increase by 2.8% for 75 million people in 2026

The Social Security Administration announced on Friday that Social Security benefits for 75 million Americans will be increasing by 2.8% in 2026. This includes Old-Age, Survivors, and Disability Insurance, as well as Supplemental Security Income payments.

Beginning in January, on average, Social Security retirement benefits will increase by about $56 per month, as indicated in a press release by Social Security.

The cost-of-living adjustment increase has averaged about 3.1% over the last ten years; this year, the adjustment was 2.5%.

Starting in January 2026, nearly 71 million Social Security beneficiaries will see a 2.8% cost-of-living adjustment. The newly increased payments to those receiving Supplemental Security Income will begin on Dec. 31, 2025.

“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,” said Social Security Administration Commissioner Frank J. Bisignano. “The cost-of-living adjustment is a vital part of how Social Security delivers on its mission.”

Additional annual adjustments made in January are based on the increase in average wages. Based on the increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) is expected to rise from $176,100 to $184,500.

Those questioning what their new benefit amount should keep an eye on their mailbox, as people can receive a notice as early as December. Beneficiaries will receive a simplified cost-of-living adjustment notice that provides dates and dollar amounts of a person’s new benefit amount and any deductions.

Those looking to view their cost-of-living adjustment notices online can view them online through their my Social Security account. Individuals with an account are able to set up text or email alerts when they receive a new message, such as their cost-of-living adjustment notice.

To receive an online cost-of-living adjustment notice, individuals will need to create or sign in to their my Social Security account and opt out of paper notices by Nov. 19.

Those looking to create an account can do so at ssa.gov/myaccount.