2026 Social Security COLA Highest in Decades

Social Security beneficiaries are expected to receive a cost-of-living adjustment (COLA) between 2.6% and 2.7% in 2026, marking the largest increase in nearly thirty years, driven by recent inflation data. Despite the boost, many advocacy groups, including The Senior Citizens League, argue this fails to match seniors’ true living costs and are urging for a one-time 'catchup' payment and a revision of the COLA formula. The anticipated COLA gains may be largely offset by an 11.6% projected rise in Medicare Part B premiums, potentially erasing the benefit for many, especially low-income recipients. Rising expenses for healthcare, housing, and groceries continue to strain seniors relying on Social Security as their main income source. Additionally, the Social Security Administration has begun reclaiming billions in overpayments, and concerns persist about the program’s long-term solvency, with full payments threatened by 2034 unless Congress acts. The official 2026 COLA will be announced in October, based on third-quarter inflation data.