The Social Security Administration announced Friday that benefit payments will get am annual cost-of-living (COLA) increase in 2026.

Both Social Security and Supplemental Security Income payments will rise by 2.8%.

Starting in January, recipients will see an average increase of about $56 monthly.

Around 71 million Americans will get the higher payments in January, while SSI recipients will see the change on December 31, 2025.

Notices of the new payment amounts will go out in December. Those who want to see their notice online must sign up for a Social Security account by November 19.

The agency says the maximum amount of earnings subject to the Social Security tax will also rise — from $176,100 to $184,500 next year.

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