Up to 90% of retired workers rely on Social Security income to cover expenses, but most may see their 2026 cost-of-living adjustment (COLA) offset by higher expenses. Social Security lifted 22 million people above the poverty line in 2023, with 80-90% of retirees relying on their monthly payout. The historic 2.8% COLA for 2026 will raise the average retired-worker benefit by $56 to $2,071 annually. However, rising shelter and medical care costs could shrink retirees’ purchasing power. Additionally, a 9.7% increase in Medicare Part B premiums may offset the COLA for some beneficiaries.

Source: https://www.fool.com/retirement/2025/11/16/social-security-28-cola-2026-compare-prior-raises/?utm_source=nasdaq&utm_medium=feed&utm_campaign=article&referring_guid=467aa5c4-0cae-443e-a36a-bf94dae326cf

Read more at Nasdaq: Here’s the Average Social Security Retired-Worker Benefit for 2026 (and Why You’ll Likely Be Disappointed)