Overview
- The Social Security Administration set the 2026 cost-of-living adjustment at 2.8%, lifting monthly payments for roughly 70 million beneficiaries.
- For an average retiree receiving $2,008 per month, the increase adds about $56, raising the benefit to $2,064.
- AARP polling reports 77% of adults age 50 and over say the adjustment does not keep pace with their costs.
- In the survey, 72% said a 5% or larger boost would help, and 26% said they would need about 8% to keep up.
- Advisers recommend delaying claiming up to age 70 to maximize benefits, diversifying income, trimming housing costs, paying down high-interest debt, and using community assistance.