Social Security Administration Announces 3.6% Cost-of-Living Adjustment for 2027
With a 3.6% COLA for 2027, Social Security retirement benefit checks will go up by $75 per month, on average, the agency said.
TL;DR
- Social Security and SSI benefits will see a 3.6% cost-of-living adjustment (COLA) for 2027.
- Social Security retirement benefits will increase by an average of $75 per month.
- Approximately 72 million Social Security recipients and 7.3 million SSI beneficiaries will receive these increases.
- The 3.6% COLA is the largest increase since 2023, when benefits rose by 8.7%.
- Rising Medicare Part B premiums, projected at $209.50 in 2027, and potential Medicare Part D increases may reduce the net benefit increase.
- The COLA is calculated based on the year-over-year percentage increase of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) in the third quarter.
- Alternative COLA measures like the chained CPI and CPI-E have been proposed but are not currently used.