COLA estimate for 2027 shows 3.8% boost for retirees

The Senior Citizens League projects a 3.8% cost-of-living adjustment (COLA) for Social Security in 2027, which would be larger than the 2.8% increase in 2026.

If the estimate holds, it would be the biggest Social Security increase since 2022, when payments rose by 8.7% amid high inflation.

Based on the 3.8% projection, the average monthly retirement benefit ($2,084) could rise by about $79 to $2,163, and the maximum benefit ($5,181) could rise by $197 to $5,378.

The final COLA is calculated from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from July, August, and September, and will be announced in October after the Labor Department releases September inflation data.

The updated payments begin with the first checks in 2027, and Supplemental Security Income (SSI) recipients will receive the adjusted amount in the December 31 payment.