How Social Security's Average Benefit is Changing in 2026

"The problem is that over time, things tend to cost more due to inflation. So it's important to have a way for Social Security benefits to keep up with rising costs. That's where Social Security's cost-of-living adjustments (COLAs) come into play. COLAs became automatic in the mid-1970s, which means that each year, Social Security benefits are eligible for an increase based on inflation."

"Social Security's 2026 COLA is going to be 2.8%. That's a notch higher than the 2.5% raise seniors on Social Security received at the start of 2025. The average Social Security retiree benefit today is a little more than $2,000. With a 2.8% COLA, the typical retiree benefit in 2026 will rise by about $56. Now on one hand, a $56 monthly raise isn't much to write home about. However, it still amounts to an extra $672 in the course of a year."

Many older Americans collect Social Security benefits for decades, with payments possible from age 62 into the 90s. Cost-of-living adjustments (COLAs) automatically increase benefits when inflation rises, and do not reduce benefits when inflation falls. The 2026 COLA is 2.8%, up from 2.5% in 2025. The average retiree benefit, a little more than $2,000, will rise about $56 monthly, equal to $672 annually. All retirement beneficiaries, including those receiving spousal benefits, are eligible for the 2026 COLA. Some seniors, however, may not retain the full COLA depending on individual circumstances.

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