Social Security Commissioner Frank Bisignano describes efforts to combat waste, fraud and abuse in “The Bottom Line.”
The annual inflation adjustment for Social Security benefits was released Friday and beneficiaries are expected to see larger benefits in 2026.
Social Security’s Annual Cost of Living Adjustment (COLA) will be 2.8% next year, following the Social Security Administration’s announcement. On average, Social Security retirement benefits will increase by about $56 per month starting in January.
Annual COLA has averaged approximately 3.1% over the past decade and will reach 2.5% in 2025. Higher inflation this year caused the COLA to expand.
“Social Security is a promise kept, and the annual cost-of-living adjustment is one way we are working to ensure benefits reflect current economic realities and continue to provide a foundation for security,” said SSA Commissioner Frank Bisignano. “Cost-of-living adjustments are an essential part of how Social Security fulfills its mission.”
The COLA was initially expected to be released on October 15. However, the Bureau of Labor Statistics was affected by the government shutdown, which delayed the release of September’s CPI inflation data, which is used to calculate Social Security’s COLA.
The BLS recalled some of its laid-off employees to replenish the September CPI data, which was also released Friday, so the COLA announcement could go ahead.
This is a development story. Check back later for updates.
