Social Security COLA Set at 2.8% for 2026

Social Security beneficiaries will get a 2.8 percent increase in their monthly payments next year, the Social Security Administration (SSA) announced on Oct. 24.

The 2026 cost-of-living adjustment (COLA) is slightly higher than last year’s 2.5 percent increase, reflecting a recent uptick in inflation.

The 2.8 percent COLA will boost the average monthly benefit for a retired worker by about $56, from $2,015 to $2,071, according to SSA estimates. The average monthly survivor benefit would inch up by about $52, and the average payment for a worker collecting Social Security Disability Insurance would go up by $44.

The COLA announcement, initially scheduled for Oct. 15, was delayed by nine days due to the federal government shutdown. However, the bump in benefits will take effect on time, starting with December Social Security payments, which are issued in January.

The annual COLA “plays a crucial role in supporting older Americans, helping ensure retirement income keeps pace with inflation,” Dr. Myechia Minter-Jordan, AARP’s chief executive officer, said in a statement.

Reflecting persistent inflation, 2026 will be the fifth straight year with a COLA of at least 2.5 percent, the longest such streak since the 1990s.

“Over the past year, many older Americans have been financially squeezed, and Social Security is an important key to their financial health,” Minter-Jordan said. “AARP has fought for Social Security for decades — including to protect the COLA from those who wanted to make cuts.” ​​

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