Starting January 2026, Social Security beneficiaries will receive a 2.8% increase in monthly payments, according to the Social Security Administration. While the boost is higher than the 2.5% raise given for 2025, it pales in comparison to recent years during peak inflation.
The average monthly benefit for retired workers will go up by around $56, reaching $2,071. Yet many recipients say that’s not enough to cover rising costs.
AARP’s Joel Eskovitz told CNN, “The CPI for working Americans doesn’t quite capture what the spending patterns are for older Americans.”
Medicare Part B premiums are expected to climb to over $206 in 2026, taking a big bite out of the COLA. “For some, the premium increase would consume their entire COLA,” said Nancy Altman of Social Security Works.
Retirees like Sam Ciraulo, who lives on about $1,400 a month, say the increase is barely noticeable. “When I see the electricity bill… I have to think about what I’m going to cut,” he said.
Joyce Clarke, 79, echoed that frustration. “It’s a luxury I can’t afford,” she said, referring to her favorite $15 pasta meal, which she gave up months ago.
For many seniors, these yearly boosts feel more like a reminder of what still isn’t being addressed.
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