Social Security benefits will increase by 2.8% in 2026

Social Security recipients will see a 2.8% increase in their benefits next year, the Social Security Administration (SSA) said Friday. That will work out to roughly $56 per month.

The 2026 Cost of Living Adjustment (COLA) was roughly in line with estimates, which had ranged from 2.7% to 2.8%. It’s also slightly higher than the 2.6% the COLA has averaged over the past 20 years. (In 2025, the COLA came in at 2.5%.)

“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 in a statement. “The cost-of-living adjustment is a vital part of how Social Security delivers on its mission.”

The adjustment was calculated despite the ongoing government shutdown thanks to the release of Friday’s CPI number. That data was crucial for the SSA to calculate the increase.

The increase is meant to help ensure payments made to seniors keeps up with inflation. Advocates for older Americans, however, say the increases over the past several years have failed to do so.

“The 2026 COLA is going to hurt for seniors,” said Shannon Benton, executive director of The Senior Citizens League, a nonpartisan group that advocates for older Americans, in a statement. “Year after year, they warn that Social Security’s meager increases won’t be enough, and the Census Bureau estimates that about 10 percent of retirement-age Americans live in poverty. However, our research suggests that the number may be higher. It’s about time our elected representatives show up for seniors, or else seniors won’t show up for them at the voting booth.”

While the COLA was the most closely watched data from the SSA, the agency also adjusted the maximum earnings amount that will be subject to Social Security tax. That will increase to $184,500 from $176,100 starting next year.

Social Security recipients will begin to receive notifications about their new benefit amounts in December.