7 Big Changes to Social Security in 2026 Including COLA Boost and Full Retirement Age Shift
Social Security benefits will see a small COLA increase in 2026, estimated at about $53-$55 monthly for average recipients, though offset by rising Medicare premiums. Full retirement age is now officially 67 for those born in 1960 or later, impacting claiming strategies. The Social Security Fairness Act eliminates WEP and GPO, boosting benefits for some public workers.
Source: AOL Finance ·
Grace's Take
In 2026, Social Security benefits will get a slight increase of about $53 to $55 a month, but keep in mind that rising Medicare premiums will take a bite out of that gain. With the full retirement age now set at 67 for those born in 1960 or later, you might want to consider waiting even longer to claim your benefits for a bigger payout. As you plan for retirement, this is a good time to evaluate your strategy, especially if you're within 1-5 years of retiring; and remember, reviewing your healthcare options before Medicare kicks in at 65 is also crucial for a smooth transition.
- •COLA adds ~$55/month but Medicare costs rise
- •FRA locked at 67; delay past FRA for 8% annual boost
- •SSFA repeal of WEP/GPO increases payments for affected retirees
Near-retirees should review claiming age now—delaying to 70 maximizes income to fight running out of money; check WEP/GPO eligibility for immediate benefit hikes.