The biggest changes to Social Security coming in 2026

Amid persistent inflation and a flurry of changes under President Donald Trump, Social Security beneficiaries may be wondering what to expect for their benefits in the coming year. There are certainly some changes ahead, from annual cost of living (COLA) adjustment, which could increase monthly checks, to a higher wage cap, which could mean a bigger bite out of that monthly check due to taxes.

While the specifics of these shifts will not become public until mid-October, when they are typically announced by the Social Security Administration, many experts already have a good idea of what is to come.

A potentially more generous COLA adjustment

It is projected that beneficiaries will see a “2.7% to 2.8% increase to their monthly checks in 2026,” said CNBC, citing estimates based on the latest government inflation data. This uptick would mark an increase (though not a significant one) from the average 2.6% COLA adjustment over the past 20 years, per the Senior Citizens League, a nonpartisan senior citizens group.

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In terms of actual amounts, this would mean an additional $54 or so tacked onto the average monthly retirement benefit, which is around $1,955.

An increase to full retirement age

Even before the new year arrives, another notable change is coming to Social Security. In November 2025, the “full retirement age (FRA) — the age at which individuals are eligible to receive 100% of their Social Security benefits — will increase to 66 years and 10 months for those born in 1959,” said Kiplinger. This will change once again in 2026, though for the final time, when the FRA “will reach 67 for those born in 1960 or later.”

These shifts come as the final steps in a “gradual schedule to increase the retirement age from 65 to 67, set in motion by the 1983 amendments to the Social Security Act,” said Kiplinger. This change is intended to “reflect longer life expectancies, reduce financial strain on the program and shore up the trust fund.”

A higher wage cap for Social Security taxes

For Social Security, there is a limit to the amount of income you pay taxes on. In 2026, that limit is expected to increase, though it is not yet certain by how much. The 2025 Social Security Board of Trustees Report “estimates the maximum taxable earnings limit will be $183,600 in 2026, an increase of $7,500 from the 2025 ceiling of $176,100,” said Kiplinger. This “would translate into owing an extra $465 annually for a total tax of $11,383.20." This change will primarily affect “high earners,” who “should expect to open up their wallets a bit more,” said The Motley Fool.

An end to paper checks

Another change coming will not affect how much your Social Security benefits are, but rather how you receive your benefits. Due to an executive order that Trump signed in March, the government will stop issuing any paper checks as of Sept. 30. So this means “starting in October, you’ll need to have a direct deposit set up with your bank account or use a Direct Express card,” said The Motley Fool.

If you are still among those receiving paper checks, make sure to update your information before the end of September to avoid any delays in your benefits.