Current Social Security recipients will receive a 2.8% benefit boost in 2026, with the average increase in benefits being $56 per month. Additionally, the wage base limit for Social Security payroll taxes will increase to $184,500 in 2026, up from $176,100 in 2025. This means individuals earning between these amounts will pay more in Social Security taxes next year, with the maximum monthly benefit depending on past wage base limits. Understanding these changes is crucial for retirement planning and maximizing Social Security benefits.

Read more at Nasdaq: Here Are 2 Major Social Security Changes Retirees Need to Know Heading Into 2026