Retirement Social Security

Here's What the Average Social Security Benefit Will Be in 2026

Knowing this useful benchmark can help you with your own retirement planning.

By Lee Huffman

Edited by Laura Hohenstein

Updated Jan. 5, 2026

For 7.4 million Americans, Social Security benefits are an essential piece of their monthly income. While many retirees have multiple sources of retirement income, others rely on their monthly benefit to cover essentials like housing, food, utilities, and health care.

With rising costs impacting retirees on a fixed income the hardest, knowing what the average Social Security benefit will be in 2026 matters. Your actual Social Security benefits vary based on your work history, but knowing the average benefit provides a useful benchmark to plan your budget and set realistic expectations to avoid running out of money in retirement.

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The average Social Security benefit in 2026

According to the Social Security Administration, the average monthly Social Security retirement benefit for retired workers in 2026 is expected to be about $2,071. This figure reflects the annual cost-of-living adjustment (COLA) applied to benefits beginning in January 2026. The annual adjustments to disbursements are designed to help payments keep pace with inflation. However, many seniors find that their monthly expenses, like medical bills and prescription drugs, rise faster than the average inflation rate.

The average retiree will receive about $24,850 in Social Security benefits before taxes in 2026. For many retirees, this income is not enough to meet their needs, so they combine their benefits with income from savings, investments, pensions, or part-time work.

While the average is just under $2,100 per month for all retired workers, it's important to note that this is an average across millions of beneficiaries. Some retirees receive more, while others receive less. The actual monthly income depends on their work history, when they claimed benefits, and other factors.

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How the average 2026 Benefit compares to recent years

The projected 2026 average benefit represents a modest increase from recent years. In 2025, the average monthly retirement benefit was just over $2,015. The jump to about $2,071 in 2026 reflects a 2.8% cost-of-living adjustment, which is slightly higher than the 2.5% adjustment applied the year before and lower than the 3.2% rise in 2024.

Over the past several years, Social Security benefits have risen at uneven rates. During periods of higher inflation, COLAs were larger, while lower inflation led to smaller increases. The 2026 adjustment continues a trend of incremental increases that help preserve purchasing power, even if they don't dramatically change retirees' financial situations.

Year	COLA Increase
2023	8.7%
2024	3.2%
2025	2.5%
2026	2.8%

For retirees living on fixed incomes, these increases can make a meaningful difference when prices for groceries, rent, and health care rise.

What drives changes in the average benefit

Several key factors influence why the average Social Security benefit changes from year to year.

Cost-of-living adjustments (COLA)

The biggest driver is the annual COLA. Each year, the Social Security Administration compares inflation data from the Consumer Price Index to determine whether benefits need to increase. When prices rise, benefits are adjusted upward to help retirees maintain their standard of living.

The 2.8% COLA for 2026 reflects moderate inflation levels. This annual increase contributes to the higher average Social Security benefit.

Wage growth over time

Social Security benefits are based on a worker's lifetime earnings, adjusted for inflation. As wages across the economy grow over time, newer retirees often enter the system with higher average earnings than earlier generations. This gradual wage growth helps push the overall average benefit upward.

Wages subject to Social Security taxes

In addition, the maximum earnings subject to Social Security payroll taxes increase periodically, which also influences future benefit calculations. For 2026, Social Security taxes of 7.65% (15.30% for self-employed) apply to the first $184,500 in wages. This is an increase of 4.8% on the 2025 maximum table earnings of $176,100.

Claiming age trends

When people choose to start collecting Social Security also affects the average. For retirees born in 1960 and later, full retirement age is 67. You can claim benefits as early as age 62, but doing so results in monthly payments being permanently reduced by up to 30%. This not only affects you, but it will also reduce your spouse's death benefit.

Delaying benefits until full retirement age, or even until age 70, leads to higher monthly checks. For every year you wait to start collecting benefits beyond your full retirement age, your Social Security income will increase by 8%.

As more people delay claiming benefits, the average benefit across all retirees can rise.

Continuing to work in retirement

Retirees who continue to work in retirement may increase their monthly Social Security benefits. Monthly benefits are based on the highest 35 years of eligible wages, so if your current income is higher than some years used in the calculation, your benefit will increase. This factor is especially important for seniors who have some $0 income years that are dragging down their average.

If you're under full retirement age, working may actually reduce your monthly Social Security income. The government deducts $1 from your benefit payments for every $2 you earn above the annual limit when you are under the full retirement age for the entire year. In 2026, the limit is $43,480.

In the year you reach full retirement age, the limit is based on your income up to the month before you reach full retirement age. Any income above $65,160 (in 2026), the government subtracts $1 for every $3 you make above the limit.

Income earned after reaching full retirement age doesn't affect Social Security benefits.

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Why some people receive more or less than average

Several factors explain why individual benefits vary widely among retirees, even those with similar circumstances:

Work history: Benefits are calculated using your highest 35 years of earnings. Lower wages or gaps in employment can reduce monthly payments.
Claiming age: Claiming early lowers benefits, while delaying increases them.
Marital benefits: Spousal and survivor benefits can raise or lower household income compared with the individual average.
Disability or SSI benefits: These programs follow different rules and often result in lower monthly payments than retirement benefits.

Because of these differences, two retirees of the same age can receive very different checks.

What this means for 2026 and beyond

For 2026, the average Social Security benefit provides a useful estimate of what a typical retiree might receive. It can help people estimate how much income Social Security may contribute toward their overall retirement plan, and how much they need to save for retirement to reach their income goals.

However, the smartest planning step is to look beyond averages. Using tools like the Social Security Administration's benefit estimators allows individuals to see how their earnings history and claiming age choices affect their personal benefit.

Bottom line

The projected average Social Security benefit of about $2,071 per month in 2026 offers an important planning benchmark for retirees and future retirees alike. While averages help guide your retirement planning, actual benefits depend on individual circumstances.

For a personalized estimate based on your historical earnings and projected income, log in to my Social Security. Understanding how Social Security benefits increase over time and the factors behind your benefits helps people make more informed decisions as they prepare for retirement.

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