Change is an inevitable facet of live which, for the most part, signifies growth. In terms of the Social Security program, change is not something beneficiaries would like to often hear about as it could negatively impact their income, however, some change brings good with it as well.
Major changes are not a regular occurrence within the Social Security program, however, there are several consistent changes that tend to occur on a yearly basis. These include the COLA, or Cost of Living Adjustment increase, as well as other changes to taxable limits or the retirement earnings test. This year, there has been one other major change implemented to not just the Social Security program, but the federal government at large: the end to paper checks.
As such, here is an outline of some of the more notable changes worth keeping an eye out for if you are a beneficiary of the Social Security program.
Goodbye paper checks
In March, the White House issued an executive order stating the use of paper based payments is to be phased out of the federal government as of September 30th, 2025 — a date that has long come and gone already. The Social Security Administration (SSA) also issued an update stating that it will no longer be issuing paper checks in accordance with the executive order.
Prior to the order coming into effect, more than 99% of Social Security recipients had already been receiving their benefits electronically. Both the SSA and the executive order cites factors such as costs, mail theft, and increasing efficiency as reasons for phasing out the use of paper checks.
Paper check recipients are now required to change their payment method to either a Direct Deposit, or a Direct Express Card. The SSA has, however, confirmed that paper checks will still be issued to those who require it. If a beneficiary is unable to change their payment method, they will have to apply for a waiver.
2026 COLA announcement
Each year, all benefit amounts undergo an increase relative to year over year inflation. This is known as the Cost of Living Adjustment (COLA) and it is implemented in order to allow the benefit to retain its buying power in the face of growing costs. In 2025, the COLA brought seniors across the country a 2.5% increase.
Based on the data available to date, the next COLA is projected to come in at around 2.7%. Unfortunately for seniors, the Medicare Part B premium is also projected to face an 11.6% increase in the new year, which will effectively reduce the value of the COLA increase.
The 2026 COLA will be officially announced on October 24th, following the release of the September CPI. The announcement was previously scheduled for October 15th, but has since been pushed back due to the government shutdown.
Wage cap increase
In order to claim benefits, you will need to have earned a sufficient number of work credits. This is done by paying a percentage of your earnings into the Social Security payroll tax throughout your working career. Since the SSA has a maximum benefit amount that it pays, there is also a cap on how much of your income is taxed. For 2025, the wage cap is $176,100, however, this is projected to increase.
In order to claim benefits, you will need have 40 work credits. The maximum number of work credits that can be earned annually is four. In 2025, one work credit equates to $1,810 in earnings.
Retirement earnings test
If you are claiming Social Security but still continue to work, you may be subject to a retirement earnings test which could result in your benefits being reduced. The reduction is temporary and will only last until you reach full retirement age. The current limit is $23,400 if you have not reached FRA and $1 of benefits is reduced for every $2 earned above the limit.
If you will reach FRA in the year, the limit increases to $62,160 and you will lose $1 in benefits for every $3 you earn above the limit until you reach FRA.