Social Security COLA 2026: How Much Extra Will You Receive in Your July 2026 Benefit Payment?

Social Security COLA 2026: Based on the increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of 2024 through the third quarter of 2025, Social Security beneficiaries and Supplemental Security Income (SSI) recipients received a 2.8% cost-of-living adjustment (COLA) for 2026. The 2.8% COLA began with benefits payable to nearly 71 million Social Security beneficiaries in January 2026, while increased payments to nearly 7.5 million SSI recipients began even earlier, on December 31, 2025. By the time your July 2026 deposit arrives depending on your birth date, between July 2 and July 22 every beneficiary will have been receiving their enhanced payment for six full months. But many recipients are still unsure exactly how much extra money the 2.8% COLA is putting in their pocket each month, and whether Medicare Part B premium changes have offset any of that gain.

The 2.8% COLA will boost the average monthly benefit for a retired worker by about $56, from $2,015 to $2,071, according to SSA estimates. The average monthly survivor benefit rose by about $52, and the average payment for a worker collecting Social Security Disability Insurance (SSDI) went up by $44. For SSI recipients, the maximum federal monthly payment increased by $27 for individuals rising from $967 to $994 and by $41 for eligible couples, rising from $1,450 to $1,491. Below is the complete breakdown of what the 2026 COLA means for every beneficiary type, the full July 2026 Social Security payment calendar, Medicare deduction impacts, and how to calculate your own personalised increase to the penny.

Social Security COLA 2026 Highlights

What Is the Social Security COLA and How Is COLA 2.8% Calculated?

The Social Security cost-of-living adjustment is an automatic annual increase designed to ensure that the purchasing power of benefits keeps pace with inflation. The COLA is determined by the inflation observed in September in the CPI-W. The SSA calculates the percentage change between average prices in the third quarter of the current year and the third quarter of the previous year. For 2026, the formula was: (317.265 − 308.729) ÷ 308.729 × 100 = 2.8%.

The 2026 COLA of 2.8% is in line with expert estimates and follows a 2.5% increase in 2025. The COLA was at its highest in four decades in 2023, reaching 8.7% following pandemic-era inflation, then returned to more moderate levels with 3.2% in 2024 and 2.5% in 2025. Over the last 20 years, the Social Security COLA has averaged 2.6%, according to The Senior Citizens League.

Social Security COLA History (Last 10 Years)

How Much Extra Are You Getting?

The 2.8% increase applies to a wide range of beneficiaries, including retirees, their spouses and survivors, and individuals receiving SSI or SSDI. Here is exactly what each group is receiving in every July 2026 payment:

Retirement Benefits

To calculate your exact personal COLA increase, multiply your December 2025 gross monthly benefit by 0.028. For example:

• $1,800 × 0.028 = $50.40 extra per month
• $2,500 × 0.028 = $70.00 extra per month
• $3,000 × 0.028 = $84.00 extra per month

Disability Benefits (SSDI)

Since SSDI benefits are based on an individual’s average lifetime earnings before their disability, the exact dollar amount varies per person. However, the estimated average monthly SSDI benefit increased by $44, rising from $1,586 in 2025 to $1,630 in 2026.

Supplemental Security Income (SSI)

For SSI individuals: maximum federal monthly payment rose from $967 to $994 (+$27). For eligible couples: maximum monthly payment increased from $1,450 to $1,491 (+$41).

Survivor Benefits

The average monthly survivor benefit rose by approximately $52 following the 2026 COLA. Widows and widowers receiving survivor benefits based on their late spouse’s earnings record see the same 2.8% applied to their individual benefit amount.

Medicare Part B in 2026: The Offset You Need to Know About

For beneficiaries who are also enrolled in Medicare Part B, the monthly premium is automatically deducted from their Social Security payment — which means the Medicare increase partially offsets the COLA gain.

The standard Medicare Part B monthly premium for 2026 is $202.90, an increase of $17.90 from the 2025 amount of $185.00. The increase is mainly due to price changes and assumed utilisation increases. For a retired worker, the COLA raised the estimated average monthly benefit by $56 — this increase is sufficient to cover the $17.90 rise in Part B premiums, meaning a relatively small share of Medicare beneficiaries are subject to the hold-harmless provision for 2026.

Net gain after Medicare Part B increase (average retired worker):

• COLA increase: +$56/month
• Part B premium increase: −$17.90/month
• Net monthly gain: ≈$38.10

This does not affect SSI recipients or those who pay their Part B premium separately (not deducted from Social Security).

Social Security Payment Dates July 2026 Full Schedule

The payment date for Social Security retirement and disability benefits depends on a beneficiary’s day of birth. All payments below include the full 2.8% COLA already applied since January 2026.

Why SSI Recipients Get Two Payments in July 2026

The July 31 SSI deposit is not a bonus payment — it is the August 2026 SSI payment paid early because August 1 falls on a Saturday. The SSA always advances payments when the scheduled date falls on a weekend or federal holiday. Recipients should budget carefully: there will be no SSI payment issued in August 2026, with the next payment after July 31 arriving on September 1, 2026.

Social Security Changes Affecting Your Payments

Higher Taxable Maximum for Workers Still Employed

Social Security caps the amount of income you pay taxes on and receive credit for when benefits are calculated. The new Social Security tax limit is $184,500 in 2026, up $8,400 from $176,100 in 2025. If you are still working and earning above this amount, you will not pay Social Security tax on earnings above $184,500.

Earnings Limits for Early Claimants

The earnings limit for workers younger than full retirement age will increase to $24,480 in 2026. The SSA deducts $1 from benefits for each $2 earned over $24,480. The earnings limit for people reaching their full retirement age in 2026 is $65,160.

Work Credits Required in 2026

To earn one Social Security credit in 2026, you must have wages or self-employment income of at least $1,890 — up from $1,810 in 2025. You must earn $7,560 to receive four full credits for the year.

Social Security Trust Fund — Long-Term Outlook

The Social Security trust funds had combined cash reserves of approximately $2.56 trillion at the end of 2025. However, in recent years, benefit outlays have exceeded incoming tax revenue, requiring the SSA to tap trust fund reserves. Social Security trustees project that the trust funds will run short by 2034 and that the program will be able to pay only 83% of scheduled benefits unless Congress acts to stabilise the system’s finances.

How to Check and Verify COLA-Enhanced Benefit 2026?

Beneficiaries can view their COLA notice online through the Message Center of their personal my Social Security account at ssa.gov. This is a secure, convenient way to receive and save COLA notices without waiting for mail. Many notices including the COLA notice and the popular SSA-1099 tax form are available online, with the option to receive email or text alerts for new notices.

FAQs