A new boost for 2026
The Social Security Administration (SSA) has officially announced the cost-of-living adjustment (COLA) for 2026 — a 2.8% increase. Starting in January 2026, around 71 million Americans will see bigger checks.
For the average retiree, that means about $56 more per month, bringing the average benefit to roughly $1,953. But your personal increase might look a little different, depending on your current benefit amount.
How to find out your 2026 COLA
If you receive Social Security, you’ll get a COLA notice from the SSA by mail before the end of the year. However, you don’t have to wait for the letter — you can find your new amount online.
Just go to SSA.gov and create a My Social Security account. Once you log in, you’ll see your COLA information under the “Messages” tab.
To make sure you don’t miss anything, turn on email or text alerts in your account settings. That way, you’ll be notified as soon as your notice is available.
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Want to do the math yourself?
You can also calculate your new benefit amount at home. Just multiply your current monthly benefit by 0.028 (2.8%).
For example, if you currently receive $1,900, multiply it by 0.028:
$1,900 × 0.028 = $53.20
Add that to your current amount:
$1,900 + $53.20 = $1,953.20
That’s your estimated monthly benefit starting in January 2026.
Making the most of your Social Security income
Social Security makes up about 31% of total income for Americans over 65, according to the SSA. With higher prices for groceries and everyday essentials, stretching those dollars is more important than ever.
Here are a few smart ways to make your COLA boost go further:
- High-yield savings accounts (HYSA): Many banks now offer interest rates between 4% and 5%, helping your money grow.
- Certificates of Deposit (CDs): If you can set aside part of your check for a fixed time, CDs offer even higher interest.
- Money market accounts: These earn interest while letting you access your money easily through checks or debit cards.
How COLA is calculated
The yearly COLA increase is tied to inflation. The Bureau of Labor Statistics uses data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
It compares prices from the third quarter of one year to the same period in the next. If prices rise, Social Security benefits go up — that’s your COLA.
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How to set up your MySSA account
If you haven’t created your account yet, it’s easy:
- Visit SSA.gov and click “Sign In/Up.”
- Provide your email address and a second method of verification, like a phone number.
- Enter your Social Security number, name, date of birth, address, and phone number.
Once your account is ready, you can:
- Check or estimate your benefits
- Replace a lost Social Security card
- Track your application status
- Manage online notifications
You can also choose to get all future SSA notices online instead of through the mail — faster and paper-free.
Read this later: Bad news for millions of Americans – Social Security offices are being affected amid the government shutdown that has been ongoing since October 1.
