3 Key Things Every Retiree Must Know About Social Security in 2026

• Benefits are rising — but your raise may not go very far.

• You get more leeway to earn money without having benefits withheld.

• Delaying your claim could still very much pay off if you haven’t taken benefits yet.

• The $23,760 Social Security bonus most retirees completely overlook ›

Social Security is one of the most important sources of retirement income for millions of retirees today. And it’s important to have a good handle on the program’s rules and changes.

With that in mind, here are three essential things every retiree needs to know about Social Security in 2026.

Social Security benefits are eligible for an automatic cost-of-living adjustment, or COLA, each year. This doesn’t mean that benefits are guaranteed to increase every single year. Rather, it means that lawmakers do not have to vote in a raise. Instead, benefits get boosted automatically based on inflation.

This year’s Social Security COLA is 2.8%, slightly higher than the 2.5% raise retirees got in 2025. But unfortunately, that COLA may not go very far.

For one thing, Medicare Part B costs are rising. Seniors enrolled in Social Security and Medicare pay their Part B premiums out of their monthly benefits directly, so that’s going to eat into some people’s COLA off the bat.

Also, tariff policies could drive prices upward. And if costs continue to rise, that 2.8% COLA may fall behind inflation.

That said, tariffs could actually lead to lower inflation. If they drive a big slowdown in spending, prices could fall. But that’s not something to bank on.

If you’re a retiree who gets a lot of your monthly income from Social Security, you may want to have a backup plan in case your COLA doesn’t end up going very far. That could mean reducing expenses or returning to work in some capacity, whether it’s a part-time job or a gig role.

One nice thing about Social Security is that seniors have the option to work part-time — or even full-time — while collecting those monthly paychecks. And once you’ve reached full retirement age, you can earn any amount of income without having benefits withheld.

If you took Social Security before full retirement age, you’ll be subject to the program’s earnings test if you continue to work. But the limits there are higher in 2026 than they were in 2025.

This year’s earnings-test limit for people under full retirement age is $24,480, up from $23,400 in 2025. If you earn more than $24,480, you’ll have $1 in Social Security withheld per $2 of wages.