If you’re retired, there’s a very good chance that Social Security is an important source of your income.
You may have savings, even a substantial amount. But at the end of the day, your IRA or 401(k) can run out over time.
Social Security, on the other hand, is designed to pay you a monthly payment for life. Therefore, it is important to keep track of changes to the program.
But changes to Social Security may affect more than just retirees. It’s just as important to keep up with Social Security changes if you’re still working and decades away from being old enough to apply for benefits.
Meanwhile, in 2026 itself major changes are expected in the field of social insurance at the beginning. It is important to prepare for any changes that may directly affect your financial situation. Here are some specific changes to read before the end of the year.
Social Security benefits may be subject to a cost-of-living adjustment, or COLA, each year. The purpose of the COLA is to help ensure that benefits keep pace with inflation.
Earlier this year, social insurance benefits increased by 2.5 percent. Because in 2025 inflation remained, for seniors in 2026 the higher 2.8% COLA will be increased. But keep in mind that if you’re on Medicare, any increase in Part B costs will go into the COLA, so you’ll have a smaller increase.
One big myth about Social Security is that you can’t work while collecting benefits. But this is not true at all.
This means that if you work for Social Security and are not at full retirement age, you will be subject to the earnings test. Exceeding its limits may mean a certain social security contribution.
Of course, another big myth is that withheld Social Security benefits are lost due to a wage test. It doesn’t happen that way. All the money is returned to you in the form of larger monthly payments when you reach full retirement age.
in 2026 the earnings test threshold increases from $23,400 to $24,480. Above this income level, $1 of Social Security is withheld for every $2 of earnings.
However, the rules are different if in 2026 you will reach full retirement age. In this case, the earnings test limit will increase from $62,160 to $65,160. From there, you’ll have $1 in Social Security deducted for every $3 in earnings.