1. Benefits Increased by 2.8% (COLA)

The annual Cost-of-Living Adjustment (COLA) for 2026 is 2.8%, designed to help benefits keep pace with inflation. For the average retired worker, that translates to roughly $56 more per month. 

​

2. Maximum Social Security Benefit Increased

The maximum monthly retirement benefit at full retirement age rose from $4,018 to $4,152.

 

3. Higher Earnings Subject to Social Security Tax

Workers now pay Social Security tax on earnings up to $184,500, up from $176,100 in 2025. Income above that amount is not subject to the Social Security payroll tax. 

​

4. Higher Earnings Limits for Working Beneficiaries

If you're collecting Social Security before reaching full retirement age and still working:

• You can earn up to $24,480 before benefits are reduced.

• In the year you reach full retirement age, the limit is $65,160.

• Once you reach full retirement age, there is no earnings limit. 

 

5. SSI Payments Increased

For people receiving Supplemental Security Income (SSI):

• Individual maximum payment: $994 per month (up from $967)

• Couple maximum payment: $1,491 per month (up from $1,450) 

 

6. Full Retirement Age Is Now 67 for Those Born in 1960 or Later

The gradual increase in the Full Retirement Age (FRA) is complete. Anyone born in 1960 or later reaches full retirement age at 67. Claiming before then results in a permanent reduction in benefits. 

​

What Matters Most for Retirees?

For most retirees in Florida and elsewhere, the most noticeable changes are:

• The 2.8% COLA increase

• Slightly larger monthly checks

• Potential increases in Medicare premiums that may offset part of the COLA

• Higher earnings limits if you work while collecting benefits. 

​