Here’s What the Average Social Security Benefit Will Look Like for Retirees in 2026

The Social Security Administration just dropped its 2026 projections—and the numbers are in.

What's the bottom line for retirees?

The average monthly benefit gets a bump. It's not a lottery win, but it's a scheduled adjustment based on the government's inflation math. Think of it as a cost-of-living adjustment on autopilot—the system's attempt to keep pace, however imperfectly.

How does this play out in the real world?

For future retirees penciling out their budgets, this projection is a crucial data point. It sets the baseline for the guaranteed income floor—the part of your retirement plan that isn't tied to the whims of the market or the fate of your 401(k).

The takeaway? The state-sponsored safety net gets a thread reinforced. It's a reminder that in the grand scheme of a multi-decade retirement, counting on a government check is like bringing a knife to a gunfight—you'll need a whole lot more in your arsenal.

Plan accordingly.

Key Takeaways

• Social Security benefits change depending on your current and past income, and the age at which you started claiming benefits.
• The 2026 cost-of-living adjustment boosted benefits by 2.8%.
• The average retired worker will receive more than $2,000 in Social Security benefits in 2026.

The average Social Security benefit in 2026 will be $2,071 per month.

Social Security benefits vary for each person, depending on a few factors. You can start receiving Social Security retirement benefits at age 62, but your payments will be lower than if you had waited until your full retirement age (FRA). (If you were born in 1960 or later, your FRA is 67.)

Once you reach your FRA, which varies depending on when you were born, you will receive your full benefits. If you wait longer, your benefits will continue to increase until you reach the age of 70. If you started receiving benefits before your FRA and are still working, your benefits will also change depending on how much income you earn in a year.

Your benefits are based on the average indexed monthly earnings you earned in your highest-earning 35 years. The more you made in those years, the more you'll receive in benefits once you retire.

Why This Matters to You

Knowing the average benefit nationwide can help you make realistic plans for retirement. You might find the average benefit to be too little to live on, so you'll have to turn to other funding sources to fill the gap—a 401(k), an IRA, or a part-time job in retirement.

Benefit Amounts May Not Be Enough

Every year, the Social Security Administration announces a cost-of-living adjustment (COLA) that increases your monthly check to account for inflation.

For 2026, Social Security benefits will be 2.8% higher than 2025. That's about $56 more every month for the average retired worker. However, 3 in 4 respondents to a recent AARP survey said that that this boost won't be enough to keep up with rising prices.

Related Education

Important

Are you a Social Security recipient? Investopedia wants to know if your Social Security benefits cover your monthly costs. 

What is your current Social Security situation?

The annual cost-of-living adjustment is calculated using an inflation index from the third quarter of the prior year.

Many advocates, however, have said the formula used does not accurately reflect older adults' real expenses.