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Despite an ongoing decline in purchasing power due to rapidly rising prices, Social Security recipients were given the benefit of larger monthly payments starting in January.
So, the good news for retirees is that they got a salary hike in 2026. However, the bad news is that this was not enough to keep pace with inflation. Here’s how much the average Social Security check recipient will be in 2026.
The most current benefits data is not exactly fresh
Every 30 days, the Social Security Administration (SSA) publishes its monthly statistical snapshot to report current data on the agency, including average monthly benefit payment amounts. The current snapshot shows that the average retiree receives $2,008.31 per month in Social Security benefits.
Unfortunately, monthly data reporting became a non-essential service due to historically prolonged government shutdowns. Therefore, the most recent figures are from August.
However, a recent GOBankingRates analysis used historical data to estimate the potential average payout in winter 2025 based on the average of past seasonal increases in profits. It found that the current average check is likely higher at $2,018.15.
The average retiree will get $56 more per month in 2026
In October, SSA announced a 2.8% cost of living adjustment (COLA) for 2026. That means the average retiree will get about $56 more per month next year than in 2025.
If GOBankingRates’ projections are correct, the average monthly Social Security check in 2026 will be about $2,074. If official August figures hold, it would be closer to $2,064.
2.8% is better than nothing, but it doesn’t match inflation
COLAs are legally mandated annual modifications designed to protect the purchasing power of Social Security recipients by ensuring that benefits keep pace with inflation.
However, rising prices are winning the race this year.
While the 2.8% COLA is certainly welcome, BLS data shows that the current inflation rate is 3%, so even with the increase, seniors will still lose money. While the average check would be a hefty $56, it would cost $62 to buy the same amount of goods and services.
