Social Security 2027 COLA may rise 3.5%

Millions of Social Security beneficiaries are anticipating a notable increase in their monthly payments for 2027, with early projections for the annual cost-of-living adjustment (COLA) suggesting a rise between 3.5 and 3.6 percent. This potential increase, which would be larger than the 2.8 percent adjustment received in 2026, could add approximately $73 to $75 per month to the average retired worker's benefit. The official COLA figure will be announced by the Social Security Administration on October 14, following the release of September inflation data. Estimates from organizations like AARP project a 3.5 percent COLA, which would translate to about $73 more per month for the average retired worker. The Senior Citizens League (TSCL) offers a slightly higher forecast of 3.6 percent, potentially increasing the average monthly benefit from around $2,086 to $2,161, an annual gain of approximately $900. The final dollar amount for individual recipients will vary based on their current benefit level, with those receiving larger payments seeing proportionally larger increases.