BALTIMORE, Md. — Social Security benefits for 75 million Americans are set to increase by 2.8 percent in 2026, according to the Social Security Administration.

Starting in January, Social Security retirement benefits will see an average rise of about $56 per month. The increase impacts nearly 71 million beneficiaries, while 7.5 million will receive Supplemental Security Income and will notice higher payments starting December 31.

"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," said Social Security Administration Commissioner Frank J. Bisignano .

SSA stated that the adjustment stems from a rise in average wages, with the maximum earnings subject to Social Security tax slat

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