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The Social Security cost-of-living adjustment will be 2.8% in 2026, the Social Security Administration said on Friday.
Social Security retirement benefits will increase by about $56 per month on average starting in January, according to the agency.
The cost-of-living adjustment, or COLA, provides an annual adjustment to both Social Security and Supplemental Security Income to help ensure those benefits keep up with inflation. About 75 million people received benefit checks from those programs in August, according to the Social Security Administration.
But for beneficiaries who rely on those payments to cover essential expenses, the size of the COLA for 2026 might not ease their struggle with higher prices.
Social Security is the primary source of income for about 40% of older Americans, according to the AARP.
The Social Security cost-of-living adjustment for 2026 is in line with expert estimates, which projected a 2.7% to 2.8% boost to benefits.
Over the last 20 years, the Social Security COLA has averaged 2.6%, according to The Senior Citizens League, a nonpartisan senior group.
The cost-of-living adjustment was 2.5% in 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,” Social Security Administration Commissioner Frank Bisignano said in a statement.
How can I estimate the size of my 2026 check?
To estimate the increase to their 2026 benefit checks, beneficiaries can multiply their current monthly benefit amount by 2.8%, or 0.028.
Other factors — such as the size of the Medicare Part B premiums, which are typically deducted directly from benefit checks, and elected tax withholdings — will also affect monthly benefit payments.
The standard monthly Part B premium could rise by 11.6% — or $21.50 per month — to $206.50 from $185, according to projections from Medicare trustees. Higher earners may pay additional monthly costs, known as income-related monthly adjustment amounts, or IRMAAs.
Beneficiaries can also opt to have federal income tax withheld from their benefit checks. They may choose from four fixed percentage rates — 7%, 10%, 12% or 22% of the monthly payment. Beneficiaries pay federal income taxes on their benefits if their combined income is more than $25,000 for individual tax filers, or more than $32,000 if married and filing jointly. Combined income is the sum of 50% of benefits plus other earned income.
The Social Security Administration will notify beneficiaries of their new payment amounts by mail starting in early December, according to the agency. Beneficiaries may choose to instead receive those notices online. To do so, they need to create or log into a My Social Security account and opt out of paper notices by Nov. 19.
How is the cost-of-living adjustment calculated?
The Social Security cost-of-living adjustment is based on a subset of the consumer price index, formally known as the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W.
The COLA is the percentage increase in the CPI-W from the third quarter of the previous year to the third quarter of the current year.
The COLA was the highest in four decades in 2023, when it climbed to 8.7% following the increase in inflation in the wake of the Covid pandemic. The COLA has returned closer to the average in subsequent years, with a 3.2% increase for 2024 followed by a 2.5% increase for 2025.
When will I start receiving the 2026 COLA?
For nearly 71 million Social Security beneficiaries, payments with the 2026 COLA will start in January.
The payment date depends on a beneficiary’s day of birth:
- Those born on the first through 10th day of the month are scheduled to receive their checks on the second Wednesday of the month, or Jan. 14, 2026.
- Those born on the 11th through the 20th day of the month will receive their checks on the third Wednesday of the month, Jan. 21, 2026.
- Those born on the 21st through 31st day of the month will get their check on the fourth Wednesday, Jan. 28, 2026.
The nearly 7.5 million Supplemental Security Income beneficiaries will start receiving their increased payments beginning on Dec. 31.
Do I have to claim benefits to get the COLA?
Starting at age 62, Social Security’s cost-of-living adjustments are built into benefits, according to David Freitag, a financial planning consultant and Social Security expert at MassMutual.
Prospective retirees do not have to claim benefits in order for those increases to be recognized in their benefit checks once they do eventually claim, he said.
Retirees who start Social Security retirement benefits at age 62 receive a reduced benefit. If they wait until full retirement age — age 66 to 67, depending on date of birth — they receive 100% of the benefits they’ve earned. For every year they wait past full retirement age up to age 70, they receive an 8% benefit increase.