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Social Security Administration announces 2026 COLA benefit increase of 2.8%

The 2.8% cost-of-living adjustment will raise average monthly Social Security benefits by $56 to help offset inflation, benefiting 75 million Americans in 2026, the SSA said.

  • On July 18, the Social Security Administration announced a 2.8% COLA for 2026, affecting payments for 75 million Americans in the United States.
  • COLA calculations use inflation data, with the SSA announcing the 2026 increase based on government inflation figures.
  • SSA announced a 2.8% increase, with officials saying it results in an average rise of more than $56 per month for retirees, covering Social Security and SSI beneficiaries.
  • The adjustment immediately recalibrates beneficiaries' purchasing power, as SSA officials say it ensures payments keep pace with rising costs and inflation.
  • The change affects an estimated 75 million Americans, federal officials said, illustrating how COLA links inflation readings to benefit adjustments.
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The Philadelphia Tribune broke the news in Philadelphia, United States on Thursday, October 23, 2025.
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