The 2026 Social Security COLA Is Official. Here's How Much the Average Retirement Check Will Increase Next Year.

After a delay caused by the government shutdown, we recently learned that Social Security beneficiaries are going to get a 2.8% increase in 2026, starting with the payment they receive in January.

This cost-of-living adjustment, or COLA, will give the average Social Security recipient a raise of more than $50 per month, but there's more to it than that. With that in mind, here's a rundown of how the 2026 Social Security COLA will impact the average Social Security payment for different types of beneficiaries, and why some retirees won't see their checks go up by as much as it seems.

Image source: Getty Images.

The average Social Security benefit, now and in 2026

The latest data on the average Social Security benefit is as of August 2025. We would have September's data, but the government shutdown has delayed the reporting of the Monthly Statistical Snapshot that the Social Security Administration releases.

As of August, the overall average Social Security benefit was $1,864.87 per month, which is $22,378 per year. However, this average includes all types of Social Security beneficiaries, not just retired workers.

Here's a breakdown of the average benefit by type, and how it would look after a 2.8% COLA is applied:

Data source: Social Security Administration, August 2025 Monthly Statistical Snapshot.

Of course, the expected 2026 averages aren't an exact science. Each month, the average benefit changes slightly, so the 2.8% COLA will be applied to whatever benefits are being paid at the end of the year. But this should be a rather close estimate of the impact of the 2026 COLA.

Monthly checks may not actually go up 2.8%

There's one big caveat to mention. These increases are before any deductions that beneficiaries may have, such as taxes. But the deduction that could make a big difference in how much the COLA increases monthly checks for retirees is Medicare Part B premiums.

Most Social Security beneficiaries over the age of 65 have their Part B premiums paid directly from their monthly benefit checks. And these are going up significantly in 2026. Specifically, the Part B premium that applies to most Medicare beneficiaries (higher-income retirees pay more) is going up from $185 per month in 2025 to $206.50 per month in 2026.

That's an increase of nearly 12%. And if you're in the group of retired workers of Medicare age, it's important to know how it will affect your COLA.

As noted in the table, the average retired worker gets about $2,008 per month from Social Security now. After the $185 Medicare premium, the bottom-line average payment is $1,823 per month in retirees' pockets.

Now, if the COLA raises the top-line payment to about $2,064.50, and the Medicare Part B premium increases to $206.50, this would make the average monthly benefit $1,858. This is a $35 increase for the average retired worker -- not the $56 increase indicated in the table.

For this reason, many retirees feel the 2026 Social Security COLA isn't enough to help keep up with rising costs of living. In addition, some types of expenses that disproportionately impact retirees, such as healthcare and housing costs, are rising at rates significantly higher than 2.8%. But by knowing what to expect, you'll be better able to prepare your better for next year.

The Motley Fool has a disclosure policy.