Next month, Social Security recipients are set to receive a major update that could affect the size of their monthly checks. The Social Security Administration (SSA), which currently supports around 70 million Americans, will announce the new cost-of-living adjustment (COLA) statistic. Whether you’re a retiree, receive SSI, or Disability benefits, this change directly impacts your financial future. Let’s unpack what this means, who it affects, and what else you should look out for.
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Support
The SSA isn’t just a retirement program. It plays a vital role in supporting some of the most financially vulnerable individuals in the U.S. While retirees make up the majority of beneficiaries, millions also rely on monthly payments through the Supplemental Security Income (SSI) program and Social Security Disability Insurance (SSDI).
For many Americans, Social Security is the only steady source of income after retirement. And for SSI and Disability recipients, the payments are often their primary lifeline. But the key difference here? Unlike retirees, SSI and Disability recipients must meet strict income or disability criteria to continue receiving benefits. If your income rises or you’re able to return to work, you could lose those payments.
Planning
When you claim your Social Security retirement benefits, the amount you receive becomes fixed. You can’t increase your payment later—unless COLA comes into play. That’s why planning when to start claiming benefits is so important. If you delay claiming until age 70, your monthly benefit amount will be higher than if you started at 62.
However, SSI and Disability benefits can change over time. They’re based on current income levels, living arrangements, and other personal circumstances, which means payments may increase or decrease depending on your financial situation.
COLA
Here’s where October 15 comes into the picture. That’s the date the SSA will release the 2026 COLA adjustment. COLA stands for cost-of-living adjustment, and it helps Social Security payments keep up with inflation.
The new COLA percentage is calculated using the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of the year. Analysts expect the increase to fall between 2.6% and 2.7%, which is fairly average in historical terms.
While a bigger COLA sounds good, it also means prices for everyday items have gone up. Ironically, a lower COLA can be a sign that inflation has stayed under control, which may benefit your spending power in the long run.
Doubles
There’s another key detail for SSI recipients: You’ll receive two payments in August. That’s because September 1 falls on Labor Day, a federal holiday. Since the SSA never schedules payments on weekends or holidays, they’re moving the payment up.
So here’s what to expect:
| Month | Normal SSI Date | Adjusted Payment Date |
|---|---|---|
| September | September 1 | August 29 |
| November | November 1 | October 31 |
Just a heads-up: This doesn’t mean you’re getting extra money—it’s just an early payment. The regular schedule resumes after these adjustments, but it’s important to budget accordingly to avoid running short before the next month’s payment arrives.
Watchlist
If you’re relying on Social Security in any form, mark October 15 on your calendar. That COLA announcement affects every type of beneficiary. Whether you’re managing retirement income or counting on SSI, that adjustment can impact your future budgets.
And don’t forget to stay on top of your payment schedule. With holidays shifting some deposit dates around, it’s easy to get caught off guard. Knowing when and why these changes happen helps you plan ahead and avoid unnecessary stress.