In 2026, individuals receiving Social Security benefits can anticipate a rise in their average monthly payments due to a 2.8% cost-of-living adjustment (COLA). This update reflects the most recent data available as of June 2025 and affects retirees differently depending on their age and gender.
The following information provides a detailed breakdown of how these increases will translate into actual average payout amounts for retirees aged 62 through 80. The base benefit figures come from the current averages before the COLA is applied, illustrating the incremental rise that beneficiaries will see in 2026.
| Age | Average Monthly Benefit (Pre-COLA) | 2026 COLA Amount | Average Monthly Benefit (Post-COLA) |
|---|---|---|---|
| 62 | $1,377 | $38 | $1,415 |
| 63 | $1,392 | $39 | $1,431 |
| 64 | $1,447 | $40 | $1,487 |
| 65 | $1,612 | $46 | $1,658 |
| 66 | $1,808 | $51 | $1,859 |
| 67 | $1,962 | $55 | $2,017 |
| 68 | $2,003 | $56 | $2,059 |
| 69 | $2,052 | $57 | $2,109 |
| 70 | $2,187 | $61 | $2,248 |
| 71 | $2,157 | $60 | $2,217 |
| 72 | $2,138 | $60 | $2,198 |
| 73 | $2,125 | $59 | $2,184 |
| 74 | $2,092 | $59 | $2,151 |
| 75 | $2,084 | $59 | $2,143 |
| 76 | $2,097 | $59 | $2,156 |
| 77 | $2,082 | $59 | $2,141 |
| 78 | $2,089 | $58 | $2,147 |
| 79 | $2,056 | $58 | $2,114 |
| 80 | $2,038 | $57 | $2,095 |
These figures represent the average Social Security monthly income that retirees of various ages can expect after the 2.8% COLA is factored in. The adjustment aims to help beneficiaries maintain purchasing power as costs of living rise.
Despite the increase, it is important to note that the average monthly Social Security benefit remains relatively modest. These payments are structured to replace approximately 40% of a retiree's pre-retirement earnings on average, underscoring the necessity for supplementary income sources in retirement.
Financial planning that incorporates additional retirement savings and investments is critical to support a desired standard of living once employment income ceases. Reliance solely on Social Security benefits may not adequately cover all expenses typically encountered in retirement.
Prospective retirees are encouraged to evaluate their overall retirement income strategies carefully and ensure that their portfolios and savings plans are sufficiently robust to compensate for the limited replacement rate of Social Security benefits.