Social Security Benefits Could Rise in 2026: COLA Update Set for Oct. 15
- Author: Elizabeth Miller
- Posted: 2025-09-16
Millions of retirees rely on Social Security each month to cover essentials like housing, groceries, and healthcare.
On October 15, 2025, the Social Security Administration (SSA) will announce the official Cost-of-Living Adjustment (COLA) for 2026 benefits.
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How COLA Works
COLA is designed to protect Social Security payments from being eroded by inflation.
Each fall, the SSA reviews inflation data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) covering July through September.
The September numbers, released on October 15, complete the calculation.
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What the 2026 COLA Might Look Like
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Current estimates project a 2.7% increase for 2026.
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The average monthly benefit of $2,008 would rise by about $54.
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This is slightly above the 2.5% adjustment retirees saw in 2025.
Why Medicare Could Reduce Your Raise
The catch: Medicare costs are also rising.
Important Date: October 15, 2025
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8:30 a.m. ET: The Bureau of Labor Statistics releases September’s inflation report.
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Shortly after: The SSA announces the official COLA.
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Beneficiaries can confirm their updated payments on their My Social Security account.
What Retirees Should Keep in Mind
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COLA offers some relief, but inflation in housing and medical costs continues to outpace overall inflation.
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Retirees should look beyond just the COLA increase and review how Medicare and supplemental insurance will affect their net payments.
Bottom line: A COLA increase is coming in 2026, but many retirees may find the extra dollars canceled out by higher Medicare costs. Mark your calendars for October 15 to see the official update.
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