By Dilara Zengin Okay
WASHINGTON (AA) - The US Social Security Administration announced Friday a 2.8% increase in social security payments for 2026.
The rate of increase is for payments to retirees and individuals covered by the Social Security System, in line with the cost-of-living adjustment.
The announcement noted that Social Security payments for 75 million Americans will increase by 2.8% in 2026.
The statement noted that the average cost-of-living increase in Social Security payments over the past 10 years has been 3.1%, and recalled that the increase rate for 2025 has been set at 2.5%.
The statement said that Social Security retirement payments will increase by an average of around $56 per month starting in January 2026.