Summary
Millions of Americans will receive their Social Security payments this week. These payments are based on the recipient's lifetime income and how long they paid Social Security taxes. There will be an increase in payments starting in 2026 due to the annual Cost of Living Adjustment (COLA).
Key Facts
- About 70 million Americans rely on Social Security for income from retirement, spousal, survivor, or disability benefits.
- Payments will be issued on Wednesday, November 19, for those whose birthdays fall between the 11th and 20th of the month.
- Another round of payments will occur on Wednesday, November 26, for birthdays from the 21st to the 31st.
- The average monthly payment to retirees is $2,006.69 as of July.
- Maximum possible payments vary: $2,831 per month at age 62, $4,018 at 67, and $5,108 at 70.
- Starting in 2026, Social Security benefits will increase due to the COLA, based on inflation data.
- The COLA uses the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) to adjust payments.
- Some lawmakers propose using a different index, CPI-E, reflecting older Americans' spending, to measure inflation.
