Jasondoiy | E+ | Getty Images
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 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 receive benefit checks from those programs. But for beneficiaries who rely on those payments to cover essential expenses, the size of this year’s COLA might not ease their struggle with higher prices.
The Social Security cost-of-living adjustment for 2026 is in line with expert estimates that had 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 J. Bisignano said in a statement.
This is a developing story. Please refresh for updates.
