AMERICANS are preparing for several changes to their Social Security payments in 2026.
A number of groups will be impacted, including retirees and workers.
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The COLA increase means recipients will take home $56 more each monthCredit: Getty
Three major changes are coming to Social Security payments in 2026.
The first big change is a boon to current retirees in the form of the program’s annual cost-of-living adjustment (COLA).
In October, the Social Security Administration (SSA) confirmed that benefits are set for a 2.8% increase starting in January 2026.
This will translate to an average increase of roughly $56 per month per retiree.
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While this increase exceeds the previous one of 2.5% for 2025, it is still less than the average 3.1% increase across the last 10 years.
The second change will affect both early and late retirees who are continuing to work, albeit in different ways.
For early retirees, the SSA is set to deduct $1 from benefit payments for every $2 earned above an annual limit.
This applies to anyone who is under their full retirement age for the year, with that annual limit being increased from $23,400, or $1,950 per month, in 2025 to $24,800, or $2,040 per month, in 2026.
Americans who reach their full retirement age while continuing to work will see the SSA deduct $1 in benefits for every $3 earned on a higher, different annual limit.
In 2025, this limit was $62,160, or $5,180 per month, with it being raised to $65,160, or $5,430 per month, in 2026.
The third and final change will apply to current members of the United States workforce who qualify as high-income individuals.
The SSA is increasing the maximum amount of earnings subject to Social Security FICA taxes from $176,100 in 2025 to $184,500 in 2026.
Employees will now hand over 7.65% of their income to Social Security and Medicare, with employers also now needing to match that rate.
Self-employed individuals will need to pay both for a total of 15.3%.
While income above $184,500 won’t be taxable for 2026, the maximum taxable earnings threshold is expect to increase again in the foreseeable future.
2025 Social Security Payment Schedule
Social Security payments are handed out on the second, third, and fourth Wednesday of each month. Benefits will be paid out in 2025 on the following dates:
January 8, 15, and 22
February 12, 19, and 26
March 12, 19, and 26
April 9, 16, and 23
May 14, 21, and 28
June 11, 18, and 25
July 9, 16, and 23
August 13, 20, and 27
September 10, 17, and 24
October 8, 15, and 22
November 12, 19, and 26
December 10, 17, and 24