Upcoming Changes for Social Security Benefits

In a few weeks, nearly 73 million individuals receiving Social Security benefits will notice some adjustments affecting their payments.

Every year, the Social Security Administration assesses the cost of living, which is announced in October and takes effect in January of the following year.

According to the Social Security Bureau, the actual increase is linked to the Consumer Price Index (CPI-W) for Urban Wage Earners and Clerical Workers from July to September of this year.

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While the official COLA increase for 2026 hasn’t been disclosed yet, the Senior Citizens League anticipates a small rise, differing slightly from the 2.5% increase seen in 2025.

The official COLA announcement is due on October 15, 2026. Predictions from the TSCL utilize the same calculation as the SSA, indicating a likely increase.

“Historically, the projected 2026 COLA would rank 29th among adjustments made since 1977, the year SSA started calculating COLAs based on the CPI-W,” the TSCL noted in a release.

“The previous increase in 2025 is currently in the 33rd position,” they added.

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A 2.7% COLA translates to about $54 more per month for the average retired worker, raising their monthly benefit from $2,008 to $2,062.

However, TSCL argues that this 2.7% increase may not be sufficient to keep pace with the inflation challenges faced by older adults, especially considering anticipated increases in Medicare Part B premiums that could diminish the overall gain.

“Currently, the government calculates the annual COLA by looking at the average annual CPI-W from July to September each year,” the TSCL mentioned in their predictions.

“…The challenge lies in the fact that the CPI-W reflects price changes primarily for wage earners in urban settings.”