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Customers shop for produce at an H-E-B grocery store on Feb. 12, 2025 in Austin, Texas.<\/p>\n
Brandon Bell | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n
Millions of Social Security<\/a> beneficiaries may see a 2.7% to 2.8% <\/strong>increase to their monthly checks in 2026, according to new estimates based on the latest government inflation data<\/a>.<\/p>\n A <\/strong>2.8% Social Security cost-of-living adjustment<\/a> may go into effect next year, estimates Mary Johnson, an independent Social Security and Medicare policy analyst. That increase would push the average retirement benefit up <\/strong>by about $54.70 <\/strong>per month, she said.<\/p>\n Separately, the Senior Citizens League estimates the 2026 COLA may be 2.7%, pushing the average monthly retirement benefit up $54 per month, according to the nonpartisan senior group.<\/p>\n The average monthly retirement benefit is $1,955 for retired workers and their families, including spouses and children, according to August Social Security Administration data<\/a>.<\/p>\n Those estimated increases would be up <\/strong>from the 2.5% boost to benefits<\/a> that went into effect in 2025. The COLA has averaged 2.6% over the past 20 years, according to the Senior Citizens League.<\/p>\n More from Personal Finance:<\/strong>
Inflation is retirees’ ‘greatest enemy,’ says inventor of 4% rule<\/a>
There’s still time for ‘super catch-up’ 401(k) contributions for 2025<\/a>
Fewer people think retirement will ‘take a miracle,’ report finds<\/a><\/p>\n