Social Security Average Benefit Reaches $2,080 After 2.8% COLA as Trust Funds Near 2032 Depletion
Updated
Updated · eciks.org · Sep 1
Social Security Average Benefit Reaches $2,080 After 2.8% COLA as Trust Funds Near 2032 Depletion
2 articles · Updated · eciks.org · Sep 1
Summary
$2,071 to $2,084 a month is now the average Social Security retirement benefit in 2026, up from $1,976 in 2025 after the 2.8% annual cost-of-living adjustment took effect in January.
The increase adds roughly $95 to $108 per retiree and applies across nearly 71 million beneficiaries, with the COLA set each year from July-to-September inflation data in the CPI-W index.
That 2.8% rise was 0.3 percentage points larger than the 2025 adjustment, helping offset higher costs for groceries, utilities and healthcare even as inflation cooled from earlier peaks.
The broader program remains under strain: the 2026 Trustees Report projects the combined Social Security trust funds will run dry in 2032, when payroll taxes would cover only 78% of scheduled benefits without congressional action.