Social Safety Administration Commissioner Frank Bisignano particulars efforts to fight waste, fraud and abuse on ‘The Backside Line.’
The annual inflation adjustment for Social Safety advantages was launched on Friday and beneficiaries are set to see bigger advantages in 2026.
Social Safety’s annual cost-of-living adjustment (COLA) will likely be 2.8% subsequent yr, following the announcement by the Social Safety Administration. On common, Social Safety retirement advantages will improve by about $56 per 30 days beginning in January.
The annual COLA has averaged about 3.1% during the last decade, and was 2.5% in 2025. Inflation trending larger this yr triggered the COLA to be bigger.
“Social Safety is a promise stored, and the annual cost-of-living adjustment is a technique we’re working to verify advantages mirror at the moment’s financial realities and proceed to supply a basis of safety,” stated SSA Commissioner Frank Bisignano. “The associated fee-of-living adjustment is a crucial a part of how Social Safety delivers on its mission.”
The COLA was initially anticipated to be launched on Oct. 15. Nevertheless, the Bureau of Labor Statistics was impacted by the federal government shutdown, which delayed the discharge of September CPI inflation knowledge that is used to compute Social Safety’s COLA.
The BLS recalled a few of its furloughed staff to finish the September CPI knowledge, which was additionally launched on Friday, to permit the COLA announcement to proceed.
It is a growing story. Please verify again for updates.