Beginning in January 2026, Social Security benefits for more than 70 million Americans will increase by 2.8%, thanks to the cost-of-living adjustment (COLA) announced in October by the Social Security Administration (SSA).
On average, the COLA should push Social Security retirement benefits up by about $56 a month, the SSA said in a press release. Based on SSA data as of November 2025 — when the average retirement payment was about $1,960 a month — the typical Social Security retirement check should be roughly $2,016 a month in early 2026.
That doesn’t mean the average will be the same in late 2026, however. Average payments constantly change as more recipients sign up and others stop collecting benefits.
What will the average Social Security payment be by the end of 2026? Keep reading to learn more.
For most Social Security recipients, the 2.8% COLA will begin in January 2026. The exceptions are Supplemental Security Income (SSI) beneficiaries, who were scheduled to get their first 2026 payment on Dec. 31, 2025, according to the SSA.
Here’s a look at the payment schedule for 2026:
If your birthday falls on the first through the 10th of the month, you’ll get your payment on the second Wednesday of the month.
If your birthday falls on the 11th through the 20th, you’ll get your payment on the third Wednesday of the month.
If your birthday falls on the 21st through the 31st, you’ll get your payment on the fourth Wednesday of the month.
If you received Social Security before May 1997, or if you receive both Social Security and SSI, your Social Security will be paid on the third and your SSI on the first.
Discover More: What Will the Average Social Security Check Be for Retirees in 2026?
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It’s impossible to predict exactly how much the average payment will be in late 2026 because there are so many moving parts.
But Shannon Benton, executive director of the Senior Citizens League, said the average check will be “close to $2,100” by the end of the year.
“[That amount] is largely driven by routine cost-of-living adjustments,” she told GOBankingRates in an email.
For many Social Security recipients, the 2026 COLA will be offset by rising costs in other areas, according to Benton.
“Those increases are quickly swallowed by rising healthcare, housing and everyday costs, particularly higher Medicare Part B premiums that often erase the COLA before it ever reaches retirees’ pockets,” she said. “The reality is that the exact average benefit matters far less than the outcome: For millions of beneficiaries, it still won’t be enough.”
In November, the Centers for Medicare & Medicaid Services announced that the standard monthly premium for Medicare Part B will rise to $202.90 in 2026 from $185 in 2025, an increase of $17.90 a month. Part B covers doctor visits and other outpatient care.
On a more positive note, a new tax break for Americans 65 and older could “reduce or fully offset” taxes on Social Security income for millions of older Americans in 2026, according to the AARP. The new deduction will reduce taxable income by up to $6,000 for eligible taxpayers.
As the AARP noted, individual filers with a modified adjusted gross income (MAGI) up to $75,000, or married couples filing jointly with a combined MAGI of up to $150,000, can claim the full $6,000. Smaller deductions will be available to individuals with incomes of up to $175,000 for single filers or $250,000 for married couples.
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This article originally appeared on GOBankingRates.com: Here’s What the Average Social Security Payment Will Be by the End of 2026
