* Despite a 2.8% cost-of-living adjustment (COLA) for 2026, 39% of middle-class Americans fear Social Security benefits will be cut in the coming years, according to a recent report.

* Many retirees say the annual COLAs haven't kept up with real-world costs, and polling shows broad skepticism that the raise is "enough."

Retirees now know the Social Security COLA for next year is 2.8% Payments reflecting the increase begin in January 2026, but the modest bump of $56 per month, on average, won't likely quell deeper concerns about the program among.

Many retired workers fear that their actual costs are rising faster than the adjustment, while those still in the workforce grapple with larger fears that Social Security won't be there when they need it.

Many Middle-Class Americans Fear Social Security Won't Be There

The Transamerica Center for Retirement Studies' new report on the American middle class finds that almost half of those in their 50s and 60s list "Social Security being reduced or ceasing to exist" among their greatest retirement fears, with 4 in 10 expecting the program to be their primary source of income. That reliance, combined with years of headlines about solvency issues and policy debates, fuels persistent anxiety about retirement planning.

Then there are the anxieties about inflation. The annual COLA is designed to track rising prices, but many older households say it doesn't reflect the prices they actually face (healthcare, transportation, housing, food, and utilities). Indeed, the Senior Citizens League estimates retirees have lost meaningful buying power since 2010, leading to widespread sentiment that 2.8% "isn't enough" amid rising essentials. While COLAs certainly help, it can still feel like treading water for many.

How Social Security Anxiety Is Changing Retirement Strategies

If you're worried about Social Security falling short, you can channel your worries into action. Here are some constructive moves experts often suggest: