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(NewsNation) — The Social Security Administration announced a 2.8% cost-of-living adjustment successful 2026, upping the mean payout for retirees by astir $56 each month.
The benefits summation volition instrumentality effect successful January for astir 71 cardinal Social Security recipients, and connected Dec. 31 for the astir 7.5 cardinal receiving Supplemental Security Income, according to the latest report.
“Social Security is simply a committedness kept, and the yearly cost-of-living accommodation is 1 mode we are moving to marque definite benefits bespeak today’s economical realities and proceed to supply a instauration of security,” Social Security Commissioner Frank J. Bisignano said successful a statement.
Over the past decade, the COLA summation has averaged astir 3.1% — successful 2025, it was 2.5%, and successful 2024, 3.2%. The payments are financed by taxes collected by U.S. workers and employers up to a definite yearly salary, the Associated Press reported.
Friday's COLA announcement was timed to align with the merchandise of the September consumer terms scale report, which was delayed by much than a week owed to the ongoing government shutdown.
