Starting January 2026, Social Security and SSI payments for roughly 71 million Americans increased by 2.8%. The average retirement benefit rose by about $56 per month, from $2,015 to $2,071. However, the Medicare Part B premium also jumped from $185 to $202.90 — a 9.7% hike — which reduces the net gain for most beneficiaries by about $17.90 per month. For seniors on a fixed income, the actual take-home increase is closer to $38 per month.

Social Security and Supplemental Security Income (SSI) benefits for 75 million Americans will increase 2.8 percent in 2026, with benefits payable to nearly 71 million Social Security beneficiaries beginning in January 2026.

Source: Social Security Administration →