About 75 million Americans will see a 2.8% cost-of-living adjustment to their Social Security and Supplemental Security Income benefits in 2026.
The increase is expected to add $56 per month on average to Social Security retirement benefits, according to the Social Security Administration.
But other changes — particularly a new tax deduction for seniors and rates for Medicare Part B premiums — will affect the final amount retirees see in their monthly checks starting in January.
The Social Security Administration is will send beneficiaries a one-page statement starting in early December with “exact dates and dollar amounts” of new monthly benefits for 2026, as well as any deductions, according to the agency.
The cost-of-living adjustment notice was available online for beneficiaries who have a My Social Security account starting Nov. 12, with all notices scheduled to be available online by Dec. 12, according to an SSA spokesperson. Paper statements will be sent in the mail starting Dec. 1, with all beneficiaries slated to receive their statements by the end of December, the spokesperson said.
