The Social Security Administration announced on October 24 that Social Security beneficiaries and Supplemental Security Income (SSI) recipients will receive a 2.8% cost-of-living allowance (COLA) for 2026. The administration bases the COLA on increases in the Consumer Price Index for the third quarters of both 2024 and 2025.
Although the current government shutdown is likely to pause federal benefits, such as SNAP, Social Security benefits are not expected to be affected. "The system hasn't missed a payment in its entire 90-year history and won't start now," says Max Richtman, CEO of the National Committee to Preserve Social Security & Medicare.
However, the shutdown could still impact the SSA and the services it offers. An estimated 8,000 SSA employees could be furloughed under the agency’s contingency plan. That can lead to the pausing of benefit verification, payee accounting, earnings record corrections, and updates.
It’s recommended that Social Security beneficiaries who use the phone to access their information register for an online Social Security account. That will help avoid spending a long time on hold.