Social Security Benefits and SSI Set to Increase Next Year
The Social Security Administration (SSA) has announced an increase in benefits for 2026, which will affect both Social Security and Supplemental Security Income (SSI) beneficiaries. This adjustment is driven by the annual cost-of-living adjustment (COLA), which aims to reflect inflationary changes in the economy.
Key Benefits Increase for 2026
For the upcoming year, benefits will rise by 2.8%. The maximum federal SSI benefit for individuals will increase to $994 per month, up from $967 in 2025. Couples will see their maximum benefit grow to $1,491, compared to last year’s $1,450.
Additional Support from States
It’s important to note that actual payment amounts may be higher due to additional contributions from some states. This adjustment aims to provide better support to beneficiaries amid rising living costs.
Timelines and Notification
Beneficiaries can expect the new adjustments to start by December 31 for the 7.5 million SSI recipients. Those on Social Security will see the changes take effect in January, as is customary.
Comparison with Previous COLA
The 2.8% increase for 2026 is slightly above the 2.5% adjustment from this year. However, it remains lower than the average of 3.1% experienced over the past decade. Information regarding the new benefit amounts will be sent out in a one-page notice starting in early December. Beneficiaries can also check their accounts online.
Concerns Regarding COLA Adequacy
Shannon Benton, the executive director of The Senior Citizens League, expressed concerns regarding the adequacy of the increases. She referred to them as “meager” and emphasized the need for Congress to set a minimum COLA of 3%. Benton also highlighted the importance of adjusting the calculation method to reflect the spending habits of beneficiaries more accurately.
- New SSI Benefits for 2026:
- Individual Maximum: $994 (up from $967)
- Couple Maximum: $1,491 (up from $1,450)
This announcement reiterates the ongoing commitment of the SSA to ensure that Social Security benefits keep pace with economic realities, thus providing a stronger safety net for beneficiaries.
