**Top 5 Things You Need to Know About Your May 2026 Social Security Payments**
- **The 2.5% COLA Hits Your Check:** The Cost-of-Living Adjustment (COLA) for 2026 has officially landed. Expect an average increase of roughly $50 per month for retirees. This is designed to keep pace with inflation, but remember—it may still not cover the full rise in healthcare and housing costs.
- **New Full Retirement Age (FRA) Reminder:** If you were born in 1960 or later, your Full Retirement Age is now **67 years and 4 months**. Claiming in May 2026 means you’ll receive your full benefit. Taking it earlier (e.g., at 62) permanently reduces your monthly amount by about 30%.
- **“Deeming” Rules Are Still in Effect—No Double-Dipping:** If you file for retirement benefits in May, any spousal or survivor benefits you’re eligible for are automatically filed at the same time. You cannot choose to take one and delay the other to grow a higher benefit. Plan accordingly.
- **Earnings Test Limit Increases for Early Claimants:** For those under FRA, the annual earnings limit is now **$23,400** (up from $22,320 in 2025). If you earn more than that before reaching FRA, Social Security will withhold $1 for every $2 over the limit. In the year you reach FRA, the limit jumps to $62,400.
- **Online Account Alerts Are Live for May Payments:** The SSA has upgraded its “my Social Security” portal. You can now set real-time alerts for when your payment is issued, any benefit changes, or if a fraudulent claim is attempted. Check your account by April 25 to ensure your direct deposit and mailing address are current.