A 2.8% Social Security cost-of-living adjustment will push up the maximum full retirement benefit in 2026. Plus, some beneficiaries may face earnings limits.

Social Security benefits are a critical source of income for many people. Unfortunately, some of the individuals who are reliant on benefits may soon find themselves facing one of the biggest benefit cuts in history.

Qualifying workers who are retiring at 62 in 2025 can get a maximum of $2,910 per month, or $34,920 per year. Those who wait until they turn 70 in 2026 to claim their benefit can get a maximum of about $5,251 per month, or $63,012 annually. As you can see, the age at which you choose to start taking Social Security can make a big difference.

The Social Security cost-of-living adjustment for 2026 will give millions of beneficiaries an increase. Here's how much to expect.

Nationally, about 71 million people receive Social Security benefits and about 7.5 million receive SSI, but some people do receive both.

The Social Security Administration announced a 2.8% COLA increase for 2026, raising average benefits by $56 a month.

The maximum Social Security benefit is significantly higher than the average benefit. Most people don't max out their Social Security checks, and it will get harder to do so in 2026. You'll need to earn more money to get the maximum benefit in 2026.

WASHINGTON -- Millions who receive Social Security benefits are getting a raise next year. After a delay in the announcement, the Social Security Administration revealed the annual cost-of-living-adjustment (COLA) for beneficiaries for 2026 is 2.8%