Social Security recipients get a 2.8% cost-of-living boost in 2026, average of $56 per month

WASHINGTON (AP) — The Social Security cost-of-living increase will go up by 2.8% in 2026, which translates to an average increase of more than $56 for retirees every month, agency officials said Friday.

The benefits increase for nearly 71 million Social Security recipients will go into effect beginning in January. And increased payments to nearly 7.5 million people receiving Supplemental Security Income will begin on Dec. 31.