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Major Social Security Changes to Benefit 71 Million by 2026

9/20/2025

Summary

Story summary

The Social Security Administration (SSA) projects nearly 71 million Americans will receive benefits in 2026, averaging $2,057 monthly for retirees.
A new bill will redefine terms like "full retirement age" to "standard monthly benefit age."
Funding will increase through a raised wage cap and tax hikes for high earners, extending the trust fund's viability by 18 years.
An 8.5% increase in monthly payments is scheduled for January 2026, aiding low-income recipients.
Medicare premiums are expected to rise, affecting net benefits for retirees, while the 2026 cost-of-living adjustment (COLA) is projected at 2.7%.

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Story summary

The Social Security Administration (SSA) projects nearly 71 million Americans will receive benefits in 2026, averaging $2,057 monthly for retirees.
A new bill will redefine terms like "full retirement age" to "standard monthly benefit age."
Funding will increase through a raised wage cap and tax hikes for high earners, extending the trust fund's viability by 18 years.
An 8.5% increase in monthly payments is scheduled for January 2026, aiding low-income recipients.
Medicare premiums are expected to rise, affecting net benefits for retirees, while the 2026 cost-of-living adjustment (COLA) is projected at 2.7%.