Big Changes Coming to Social Security in 2026: What You Need to Know

COLA Announcement Delayed

Social Security is a critical topic for retirees, serving as their primary income source. In 2025, retirees had to wait longer than usual for the 2026 cost-of-living adjustment (COLA) announcement due to a government shutdown that delayed a key inflation report. Finally, on Oct. 24, it was revealed that retirees would receive a 2.8% COLA in 2026.

Key Changes Coming in 2026

The COLA isn't the only change affecting Social Security in 2026. Here are other important updates:

1. Earnings-Test Limits Increase

• Under Full Retirement Age: If you're collecting benefits before your full retirement age and working, you can earn more without benefits being withheld.
• 2026 Limit: $24,480 (up from $23,400 in 2025)
• Reaching Full Retirement Age in 2026: The limit is even higher.
• 2026 Limit: $65,160 (up from $62,160 in 2025)

2. Maximum Monthly Benefit

• Full Retirement Age: The highest benefit available will increase from $4,018 in 2025 to $4,152 in 2026.
• Age 70: If you sign up for Social Security at age 70 in 2026, the highest possible benefit you can receive is $5,251.

3. Wage Cap Rise

• 2025 Cap: Earnings beyond $176,100 aren't taxed.
• 2026 Cap: The cap will increase to $184,500, affecting high earners.

4. Work Credits

• Value Increase: The value of a work credit will rise from $1,810 to $1,890 in 2026.
• Impact: If you're working part-time and aiming to collect the maximum number of credits, you may need to increase your hours.

Stay Informed

While the COLA is the most discussed change, these other updates are equally important. Whether you're already collecting benefits or years away from that point, staying informed about Social Security is crucial.