Every year, Social Security is eligible for a COLA. When inflation remains flat, Social Security benefits remain flat. When there's a decrease in inflation from one year to the next, Social Security benefits also remain flat.

Cost of living adjustments help prevent Social Security benefits from losing their buying power over time. Retirees are on track to receive a COLA in 2026, though it may not be as large as they hope.

Social Security retirees are going to get a raise in 2026, which is good news since many seniors rely on their benefits to help them cover the bills. There’s some even better news as well: The benefits bump may be bigger than initially expected,