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Social Security had several changes for 2026.
While they weren’t big overhauls, they could still impact how much 70 million people who receive benefits take home, according to the Social Security Administration (SSA).
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Here’s how Social Security updates have affected retirees in 2026.
What Changed in Social Security
This year, several updates took effect that influence how much retirees receive, pay in premiums or qualify for benefits. These adjustments could affect monthly income and retirement planning for current and future retirees.
Cost of living adjustment (COLA): The annual cost-of-living adjustment (COLA) increased Social Security benefits by 2.8% in 2026, the SSA reported.
Taxes: The maximum amount of earnings subject to the Social Security tax increased to $184,500, up from $176,100 last year, the SSA announced. There’s also a new $6,000 tax break for eligible taxpayers aged 65 and older, which could lower or offset Social Security taxes for retirees.
Social Security earnings test: In 2026, the program withholds $1 in benefits for every $2 earned above $24,480 for those who will reach full retirement age in a later year. In the year you reach full retirement age, the penalty eases to $1 for every $3 earned above $65,160 until the month you reach that milestone.
Qualifying for benefits: Workers must earn 40 Social Security credits to qualify for retirement benefits. In 2026, workers earn one credit for every $1,890 in earnings, up from $1,810 in 2025, and receive the maximum four credits per year once annual earnings reach $7,560.
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Retirees Who Get More
Some retirees will see slightly larger Social Security payments, particularly those already collecting benefits and those benefiting fully from COLA increases. Higher-lifetime earners may also see larger dollar increases because COLA applies to their full benefit amount.
Retirees who delayed claiming benefits until full retirement age or later typically receive larger monthly payments, as well. Married couples who coordinate their claiming strategies may also maximize household benefits over time.
For example, the SSA estimated that retirement benefits will increase by an average of $56 per month, from $2,015 to $2,071. For couples who are both receiving benefits, the average monthly amount rose from $3,120 in 2025 to $3,208 in 2026, an increase of about $88 per month, according to the agency’s estimates.
Retirees Who Miss Out — or Gain Less
Not every retiree will see the same benefit from the latest Social Security changes. Some may technically receive more, but will see no real improvement.
New retirees may receive benefits that reflect today’s wage levels rather than the larger base amounts some long-time beneficiaries receive. Also, those who claimed benefits early start with permanently reduced payments, so any COLA increases apply to a smaller base benefit.
Lower-income retirees who rely on Social Security may see smaller dollar increases, even when the percentage adjustment is the same. In some cases, higher Medicare premiums can also offset part of the increase.
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This article originally appeared on GOBankingRates.com: Social Security Updates: Retirees Who Get More — and Who Misses Out
