The projection for Social Security's 2026 cost-of-living adjustment rose to 2.7% as inflation trends higher, as the program faces insolvency challenges in less than a decade.

According the the AARP, the 2.5% COLA adjustment introduced this year boosted the average Social Security retiree's payment by about $49 a month. The average monthly Social Security check for all beneficiaries was $1,861 in June 2025 and $2,005 for retired workers, according to the Senior Citizens League.