Who will get Social Security increase first? See the payment breakdown
Holiday season expenses strain the finances of nearly 74 million people who receive Social Security payments, all waiting anxiously for the expected cost-of-living adjustment for 2026, which for most beneficiaries takes effect with the first January payment.
The COLA increase for 2026 will be 2.8%, which means on average about $56 more in retirees' pockets. Because retirees generally have fixed incomes, they are especially affected by rising prices for goods and services, and in particular by food costs.
The COLA increase is applied first each year to the 7.4 million beneficiaries of Supplemental Security Income, which is intended for adults 65 and older and disabled people with very limited resources.
SSI and Social Security payment schedule
The Social Security Administration will send the Supplemental Security Income (SSI) payment, including the 2026 COLA increase, on Dec. 31. The maximum amount will be $994 for an individual and $1,491 for a couple, according to the Social Security website on the COLA increase.
Supplemental payments are made on the first day of each month but are moved earlier when that date falls on a holiday such as Jan. 1. That means SSI beneficiaries will receive two payments in December, although the second corresponds to January.
The February SSI payment is also moved up to Jan. 30, because Feb. 1 falls on a Sunday.
The payment schedule for other Social Security beneficiaries remains based on the recipient's birthdate:
Jan. 14: Beneficiaries born between the 1st and 10th of the month.
Jan. 21: Beneficiaries born between the 11th and 20th of the month.
Jan. 28: Beneficiaries born between the 21st and 31st of the month.
When calculating the COLA increase to benefits, you should take Medicare premiums and deductibles into account. In 2026, the standard Medicare Part B premium will rise from $185 per month to $202.90, nearly $18 more.
The Part B deductible, which is deducted directly from Social Security benefits, will also increase by $26.
Senior bonus for 2026
One piece of good news for 2026 is the $6,000 tax deduction or bonus for people over 65, which was included as part of the One Big Beautiful Bill passed in July.
This senior bonus would apply to taxpayers with an adjusted gross income of $75,000 or less in retirement, and for couples, those earning $150,000 or less. In both cases, it would benefit taxpayers who take either the standard deduction or itemize deductions on their tax returns.
Many analysts say the way COLA is currently calculated needs to be changed to better reflect retirees' needs, given that 10% live in poverty. Around 2.5 million retirees must rely on Supplemental Security Income because their retirement benefits are insufficient.
The change proposed by the Senior Citizens League is to use the Consumer Price Index for the Elderly (CPI-E) instead of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which is the government's current measure for calculating COLA.
This story was originally published December 9, 2025 at 3:01 PM.
