What Is the Average Social Security Benefit for Retirees in 2026?

Core Insights - The average monthly benefit for a retired Social Security beneficiary in 2026 will be $2,071, reflecting a 2.8% increase from the previous year, which translates to an additional $56 per month for the average retired worker [1][5][6] Benefit Calculation - Social Security benefits are calculated based on the average indexed monthly earnings over a maximum of 35 years, with higher average earnings leading to higher benefits upon retirement [3][6] Full Retirement Age (FRA) and Benefit Adjustments - Beneficiaries can start receiving Social Security retirement benefits at age 62, but payments are reduced if claimed before reaching FRA, which varies based on birth year. Delaying benefits until age 70 results in increased payments [2][6] Cost-of-Living Adjustment (COLA) - The 2026 COLA aims to adjust benefits for inflation; however, many beneficiaries express concerns that the increase may not sufficiently cover rising living expenses, particularly for those heavily reliant on Social Security income [4][5][7] Survey Insights - A recent AARP survey indicates that a majority of Social Security beneficiaries believe the 2026 benefit increase will not adequately meet their living costs [5][10]