How much will Social Security payments increase in 2026?

Heard there's a raise coming to Social Security checks. How much is it and how is that number decided?

Social Security beneficiaries and Supplemental Security Income (SSI) recipients are receiving a 2.8% cost-of-living adjustment (COLA) for 2026, which the SSA estimates raises the average benefit by around $56 per month. This affects roughly 75 million Americans who receive Social Security or SSI payments. The COLA is calculated based on the increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), comparing the third quarter of the prior year to the third quarter of the year before that — it's a standard annual formula, not a one-off political decision, though the exact percentage naturally varies year to year with inflation. If you want to know your specific new benefit amount, the SSA typically mails or posts COLA notices to your online "my Social Security" account in December ahead of the new year.