Social Security recipients get cost-of-living boost in 2026
By JANE DOE, Staff Writer
WASHINGTON (AP) — Social Security recipients can expect a 2.8% cost-of-living increase in 2026, resulting in an average monthly boost of over $56 for retirees, according to officials from the agency.
This increase will benefit nearly 71 million Social Security recipients, with payments beginning in January. Additionally, around 7.5 million individuals receiving Supplemental Security Income will see their payments increase starting on Dec. 31.
The announcement, originally scheduled for last week, was delayed due to the recent federal government shutdown.
The cost-of-living adjustment (COLA) for retirees and disabled beneficiaries is funded by payroll taxes collected from workers and employers, with the annual salary cap set to rise to $184,500 in 2026 from $176,100 in 2025.
In 2025, recipients received a 2.5% COLA increase, following a 3.2% boost in benefits in 2024 and a significant 8.7% increase in 2023 due to high inflation rates.
This year’s smaller increase reflects a more stable inflation rate.
Social Security Administration Commissioner Frank Bisignano stated that the annual adjustment aims to ensure that benefits align with current economic conditions and offer a sense of financial security.
Emerson Sprick, the Director of Retirement and Labor Policy at the Bipartisan Policy Center, emphasized that while COLA increases are beneficial, they do not address all financial challenges faced by households.
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