2026 Social Security Changes: COLA, Taxable Maximum and Earnings Limits
Social Security benefits rise 2.8% in 2026, and the taxable maximum goes to $184,500.
Social Security Administration 2026 COLA fact sheet · Last updated October 5, 2026 · Download CSV
Key numbers. COLA 2.8%. Maximum taxable earnings $184,500 (up from $176,100). Earnings test: $24,480 a year if under full retirement age.
| Item | 2026 | 2025 |
|---|---|---|
| Cost-of-living adjustment (COLA) | 2.8% | n/a |
| Employee Social Security + Medicare tax rate | 7.65% | 7.65% |
| Self-employed rate | 15.30% | 15.30% |
| Maximum taxable earnings (Social Security only) | $184,500 | $176,100 |
| Quarter of coverage (earnings needed) | $1,890 | $1,810 |
| Earnings test exempt amount, under full retirement age | $24,480 a year ($2,040 a month) | $23,400 a year ($1,950 a month) |
| Earnings test exempt amount, year you reach full retirement age | $65,160 a year ($5,430 a month) | $62,160 a year ($5,180 a month) |
How to read this
Benefits are withheld at $1 for every $2 earned above the limit if you are under full retirement age, and $1 for every $3 in the year you reach it. The 7.65% rate is Social Security (6.2% up to the taxable maximum) plus Medicare (1.45% on all earnings). An extra 0.9% Medicare tax applies above $200,000 ($250,000 for married couples filing jointly). Source figures are from the SSA fact sheet.
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Financialist Editorial Team. "2026 Social Security Changes: COLA, Taxable Maximum and Earnings Limits." Financialist, October 5, 2026. https://financialist.com/research/2026-social-security-changes
Free to quote with a link back.
Financialist Editorial Team. "2026 Social Security Changes: COLA, Taxable Maximum and Earnings Limits." Financialist, October 5, 2026. https://financialist.com/research/2026-social-security-changes
Free to quote with a link back.