Social Security benefits to increase 2.8% in 2026, here’s what that means in Florida

The Social Security Administration announced Oct. 24 that Social Security benefits and Supplemental Security Income (SSI) payments for 75 million Americans will increase 2.8 percent in 2026.

The cost-of-living adjustment (COLA) works out to an average of $56 more per month for Social Security retirement benefits, starting in January, the SSA said. About five million Floridians currently receive Social Security benefits.

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