Cost-of-Living Adjustment (COLA)

The COLA has been automatic since 1975, under Section 215(i) of the Social Security Act: SSA averages the CPI-W for July, August, and September and compares it with the same quarter of the last year a COLA was set, rounding the change to the nearest tenth of a percent. For 2026 that math is (317.265 - 308.729) / 308.729, which rounds to 2.8 percent. When prices fall, the COLA is zero, never negative, as happened in 2010, 2011, and 2016.

The raise applies to the benefit itself, truncated to the next lower dime, so a $2,015 average check becomes $2,071.40 gross. What lands in your bank account also depends on the Medicare Part B premium, which is deducted before payment: in 2026 the standard premium rises $17.90, trimming the average net raise to about $38. Run your own numbers in the Social Security COLA calculator, which applies SSA’s exact rounding and the Part B offset.