The new cost-of-living adjustment — or COLA — for 2026 is 2.8%, slightly above last year’s increase, according to the Social Security Administration (SSA).

Social Security recipients received a 2.5% COLA for 2025 , which was one of the lowest Social Security increases in years.

Recipients received a 3.2% COLA in 2024 , and a record-setting 8.7% COLA boost in 2023 .

The last time a higher COLA was announced since 2023 was 1981 when the COLA was at 11.2%.

Here’s what you need to know about how the new COLA will affect you, if you receive Social Security.

How much will the COLA increase Social Security payments?

The COLA will result in a $56 increase per payment , making the average Social Security check $2,071 .

According to the Social Security Administration (SSA) , the

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