Originally published on 11/21/25

After months of speculation, the 2026 cost-of-living (COLA) increase announcement After months of speculation, Social Security recipients are finally going to learn how much money they will earn from the 2026 cost-of-living (COLA) increase announcement.This news comes less than a month after the Social Security Administration (SSA) announced the increase, which experts had been speculating about for months. The bump in benefits is expected to help Americans who receive the payments fight inflation and President Donald Trump’s tariffs. We share everything you need to know about the increase, including how experts are responding below! 

What is a Social Security cost-of-living adjustment? 

A Social Security cost-of-living adjustment—or COLA—is made when the SSA decides to increase the amount of money they give recipients each month based on rates of inflation and the overall cost of living in the U.S. 

The first time the SSA offered a COLA was in 1975. In the past 50 years, the increase has varied from no increase (in 2010, 2011 and 2016) to 14.3 percent in 1980.

“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,” Social Security Administration Commissioner Frank J. Bisignano said in a statement. “The cost-of-living adjustment is a vital part of how Social Security delivers on its mission.”

Details on what to expect from the 2026 COLA increase 

The COLA increase will be 2.8 percent a month, which, according to the SSA, will average out to be around $56. To learn the exact increase amount you will be receiving, experts recommend multiplying your current monthly payment amount by 0.028. By doing this, you will then be able to see the exact amount of money you can expect to be added to your Social Security payments each month come 2026. And if you want to see how much you will be getting each year, just multiply the new monthly payment by 12.

Not interested in doing math? No worries!The SSA just announced they will be sending letters to Social Security recipients in December that will detail just how much money they will be receiving each month. 

“Similar to last year, Social Security beneficiaries will receive a simplified, one-page COLA notice, which uses plain and personalized language, and provides exact dates and dollar amounts of an individual’s new benefit amount and any deductions,” reads the SSA press release obtained by Woman’s World. “Individuals who have ‘my Social Security’ accounts can view their COLA notices online, which is secure, easy and faster than receiving a letter in the mail. Account holders can set up text or email alerts when they receive a new message, such as their COLA notice.”

Experts say the increase won’t be enough

Back when the increase was predicted to be just 2.7 percent, financial experts were worried that it still wouldn’t be enough to help seniors fight things like inflation and President Donald Trump’s new tariffs. And while the actual COLA is .01 percent higher than predicted, that worry still remains. 

“Even if your income goes up a few percent, inflation compounds quietly every year — working against you the same way compound interest works for you,” Kim Scouller, a financial professional with World Financial Group, told USA Today. “When prices rise faster than benefits, every dollar loses a bit of its power.”

Ramsey Alwin, president and chief executive of the National Council on Aging added onto that by saying that “A few extra dollars [from COLA] won’t begin to give them true financial security.” 

Experts say rising Medicare costs will also become an issue for those on Social Security, as the increase won’t be enough to cover one’s insurance. 

“COLA might reflect the inflation rate, but it is woefully insufficient for older Americans who already have high healthcare costs and are facing even greater increases in their Medicare costs in 2026,” Ramsey Alwin, CEO of the National Council on Aging said in a statement. “This COLA will not even cover the projected increases in Medicare premiums and deductibles, which are expected to range between 4 percent and 12 percent. Once again, older adults will have to make heart-wrenching decisions about whether to spend their fixed incomes on health care, food, or housing.” 

How to get the most from your Social Security benefits

So how can you change that and ensure that you are getting the most out of your Social Security checks? 

The first is to make sure that you aren’t claiming your benefits until you actually need them. Just because you can opt for it at 62 doesn’t mean you should. 

“Starting your benefit at age 62 can permanently reduce your retirement benefit by 30 percent,” says Regina McCann Hess, CFP, CDFA, a financial advisor at Forge Wealth Management. 

The second is to make sure you’re getting the most out of your potential benefits. These can include spousal and widow benefits. 

Finally, if you still want to learn how to maximize your Social Security return, you can always reach out to a financial expert who can help you budget the amount you receive.

Link to original: https://www.womansworld.com/life/money/social-security-checks-increase-2026