In January, nearly 52 million retired-worker beneficiaries collected an average Social Security check totaling $1,978.77. While this is a relatively modest monthly payout, Social Security income has historically laid a financial foundation for most retirees.

The projected COLA for 2026 is estimated at 2.1%, with some forecasts predicting as low as 0.06%. Meanwhile, the COLA for 2025 is expected to be around 2.5%, reflecting a slight dip in inflation. The official announcement for the 2026 adjustment is anticipated in October, as reported by The Economic Times.