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The Social Security Administration announced a 2.8% cost-of-living adjustment (COLA) for 2026.

This increase will raise monthly payments for more than 70 million Americans starting in January.

The adjustment will increase the average retirement benefit by about $56 per month.

This year's 2.8% COLA is an increase from the 2.5% adjustment set for 2025.

The Social Security Administration announced a 2.8% cost-of-living adjustment for 2026 on Friday, Oct. 24, which will increase monthly payments for more than 70 million Americans who receive benefits come January.

Here's what to know.

Social Security Administration announces 2.8% increase for benefits in 2026

The Social Security Administration set the cost-of-living adjustment for 2026 benefits at 2.8% on Friday,

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