4 Social Security Changes Retirees Need to Know About in 2026

Key Points - The article discusses four significant changes to Social Security in 2026 that retirees need to be aware of [1] Group 1: Cost-of-Living Adjustment (COLA) - Retirees will receive a 2.8% COLA in 2026, increasing the average monthly Social Security retirement benefit from $2,015 to $2,071 [2] - The inflation metric used for calculating COLAs, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), is criticized for not adequately accounting for healthcare costs, which are more significant for retirees [3] Group 2: Retirement Age - The fixed full retirement age for all Americans will be 67 as of 2026, concluding a gradual increase from 65 that began with the Social Security Amendments of 1983 [5] Group 3: Earnings Limits - For those receiving Social Security retirement benefits before reaching full retirement age, the earnings limit will increase to $24,480 in 2026, up from $23,400 in 2025, with $1 withheld for every $2 earned above this limit [7] - In the year a person reaches full retirement age, the limit will be $65,160, an increase from $62,160 in the previous year, with $1 withheld for every $3 earned above this threshold [8] - After reaching full retirement age, no benefits will be withheld regardless of earnings [8]