The rules for collecting Social Security are changing in 2026.

Two of the most important things to know if you’re collecting benefits: Your monthly check payments will increase, and if you’re planning on collecting benefits before retirement age and still plan to work, your checks could be reduced or even paused.

For more on this, read on.

The 2026 cost-of-living adjustment will increase benefits

Social Security benefits and Supplemental Security Income (SSI) payments for 75 million Americans will increase 2.8% in 2026, the Social Security Administration (SSA) announced on October 24.

However, due to inflation and the skyrocketing cost of living, many retirees might not actually be getting more for their hard-earned dollars.

Each year the SSA announces a cost-of-living adjustment, known as COLA. Over the past decade, the COLA increase has averaged about 3.1%. This year’s increase is 0.3% greater than 2025’s 2.5% COLA, but far smaller than previous years with higher inflation, as CNN noted.

So, how much does that add up to? For an average payment of $2,071, that’s an additional $56 a month, which will kick in this January, according to the SSA.

“Social Security is a promise kept, and the annual cost-of-living adjustment is one way we are working to make sure benefits reflect today’s economic realities and continue to provide a foundation of security,” Frank J. Bisignano, SSA commissioner, said in a statement. “The cost-of-living adjustment is a vital part of how Social Security delivers on its mission.”

What other changes are coming to Social Security in 2026?

Also changing in January: The maximum amount of earnings subject to the Social Security tax (taxable maximum) is slated to increase to $184,500 from $176,100.

And another noticeable change is on the horizon for working seniors who are collecting Social Security.

Given the high cost of living, an increasing number of older Americans are still working into their golden years. Those who have reached full retirement age can work without penalty.

However, those who have applied for Social Security before reaching full retirement age and are still collecting a paycheck may see those payments either reduced or paused in 2026, depending on how much they earn and at what point they reach full retirement age, according to the Motley Fool.

In 2025, the full retirement age is 67 (for those born in 1960 or later). People collecting Social Security while working who are under the full retirement age lost $1 in benefits for every $2 they earned over $23,400 (or $1 for every $3 they earned above $62,160).

However, in 2026 that threshold limit is expected to increase slightly to $24,360, and the $62,160 limit is increasing to $64,800—meaning people can earn another $960 next year without being penalized, per the Motley Fool.

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