The cost of living does not stay the same over time, and thankfully, neither does the amount of Social Security payments. To reflect increasing costs due to inflation and other economic factors, the Social Security Administration (SSA) regularly reviews its calculations for Social Security retirement benefits as well as Social Security Disability Insurance (SSDI) payments and Supplemental Security Income (SSI) payments. This update is what is officially known as a cost-of-living adjustment (COLA).

Effectively, the aim of these annual adjustments is to "ensure that your purchasing power remains the same even when prices rise due to inflation," said Bankrate . How much of an adjustment is required for that to happen each year, however, can vary widely.

What is the COLA for 2026?

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