The annual inflation adjustment for Social Security benefits was released on Friday, and beneficiaries are set to see larger benefits in 2026.
Social Security's annual cost-of-living adjustment (COLA) will be 2.8% next year, following the announcement by the Social Security Administration. On average, Social Security retirement benefits will increase by about $56 per month starting in January.
The annual Social Security COLA has averaged about 3.1% over the last decade, and was 2.5% in 2025. Inflation trending higher this year caused the COLA to be larger.
"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," said SSA Commissioner Frank Bisignano. "The cost-of-living adjustment is a vital part of how Social Security delivers on its mission."