WASHINGTON — The Social Security Administration announced on Friday that payments will get an annual cost-of-living adjustment in 2026.
The SSA said that both Social Security payments and Supplemental Security Income will increase 2.8% in 2026.
Starting in January, recipients will see an average monthly increase of $56 from their current payments.
About 71 million people on Social Security will see the COLA in January, while SSI recipients will see the increase on Dec. 31, the SSA said. Some people receive both Social Security and SSI payments.
“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,” Commissioner Frank J. Bisignano said in a news release. “The cost-of-living adjustment is a vital part of how Social Security delivers on its mission.”
Recipients will be alerted to their new amount in December by mail and can check their Social Security account online for their COLA notice. You will have to sign up for an online account by Nov. 19 to get the COLA notice online.
Other changes are coming at the start of the year, including the maximum amount of earnings subject to the Social Security tax. It is currently $176,100 but will increase to $184,500 next year.
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