By Joel Dresang
Retirees can plan on a 2.8% increase in their Social Security benefits beginning in January.
Social Security said its annual cost-of-living adjustment (COLA) will add about $56 a month to the average benefit check for individuals. The average gain for married couples will be $88 a month. Of course, actual raises will vary according to individual benefit amounts.
“A lot of my clients really look forward to those numbers,” Mike Hoelzl said on a recent Money Talk Podcast. Knowing how much more Social Security to expect, Mike said, helps clients with budgeting questions: “What can I do next year? Can I take that trip? Can I give money to my kids or grandkids for the new year?”
The 2.8% raise is below the 3.7% average since Congress mandated an automatic annual adjustment 50 years ago. It’s above the 2.5% increase in 2025 and on par with the average from the last 10 years.
If you haven’t already, set up a free, secure, personalized Social Security account online https://www.ssa.gov/myaccount/
Learn more
Cost-of-Living Adjustment (COLA) Information,from Social Security
2026 Cost-of-Living Adjustment (COLA) Fact Sheet, from Social Security
Social Security benefits not going away, by Joel Dresang
Claiming Social Security: Sooner or later? by Steve Giles
The COLA announcement came nine days later than scheduled because of the federal government shutdown. Bureau of Labor Statistics workers who compile the inflation data used for the COLA had to be called back from furloughs to complete their work.
Social Security said it would notify recipients of their individual benefit adjustments in December. The COLA applies to 75 million Americans, including retirees and their spouses and survivors, as well as those receiving disability benefits and Supplemental Security Income.
For many, the COLA will be offset by increased health care costs in 2026, including Medicare premiums that are deducted from Social Security checks. Social Security said it will begin notifying Medicare enrollees of 2026 benefit changes in late November.
Joel Dresang is vice president-communications at Landaas & Company, LLC.