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Social Security recipients get a 2.8% cost-of-living boost in 2026, averaging $56 per month [View all]
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Social Security recipients get a 2.8% cost-of-living boost in 2026, averaging $56 per month
By FATIMA HUSSEIN
Agency officials said Friday that the benefits increase takes effect in January. The cost-of-living adjustment for retirees and disabled beneficiaries is financed by payroll taxes collected from workers and their employers. An annual salary cap, slated to increase to $184,500 in 2026, from $176,100 in 2025, limits what higher-income earners contribute.
Recipients received a 2.5% cost-of-living boost in 2025 and a 3.2% increase in their benefits in 2024, after a historically large 8.7% benefit increase in 2023, brought on by record 40-year-high inflation.
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