The Social Security Administration (SSA) announced on Oct. 14 that the 2027 cost-of-living adjustment (COLA) will be 3.6%. Retired beneficiaries will see an average increase of about $75 a month. The increase takes effect with Social Security benefits for January next year, and with SSI payments starting Dec. 31.
The Social Security Administration (SSA) announced on Oct. 14 that the 2027 cost-of-living adjustment (COLA) is 3.6%. That is 0.8 percentage points higher than the 2.8% adjustment applied this year. Monthly benefits for retired beneficiaries will rise by about $75 on average, with the increase reflected beginning with the January 2027 payment.
Supplemental Security Income (SSI), which is paid to low-income seniors and people with disabilities, will increase earlier than Social Security, beginning with the payment on Dec. 31. According to the SSA, the adjustment will apply to nearly 72 million Social Security beneficiaries and about 7.3 million SSI recipients. SSA Commissioner Frank Bisignano said, "We will implement this adjustment for 76 million Americans."
In Line With Earlier Forecasts
Private-sector forecasts before the announcement ranged from 3.3% to 3.6%, and the actual figure is at the high end. Each year, the SSA sets the adjustment by comparing the third-quarter (July–September) Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) with the same period a year earlier.
Medicare Premiums to Be Confirmed in Late November
Even when benefits go up, Medicare Part B premiums are deducted from benefit payments, so the actual increase beneficiaries receive may be smaller. The SSA said beneficiaries can check their 2027 Medicare premium amounts in the message center of their "my Social Security" account starting in late November. An account can be created at ssa.gov.