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Here's the projected Social Security COLA for 2027, according to AARP
CBS News • • business
Key Points:
- AARP projects the 2027 Social Security cost-of-living adjustment (COLA) at 3.6%, slightly higher than their previous estimate of 3.5%, based on August Consumer Price Index (CPI) data.
- The Senior Citizens League forecasts a 3.5% COLA for 2027, down from its earlier 3.6% estimate, reflecting some variation among advocacy groups.
- A 3.6% COLA increase would be the largest since 2023, raising the average monthly Social Security benefit by about $75 to approximately $2,146 starting in 2027.
- The official 2027 COLA announcement will be made on October 14, after the Social Security Administration reviews inflation data from July, August, and September.
- Despite the COLA adjustment, many seniors feel the increase does not keep pace with ongoing inflation, particularly with rising energy costs and healthcare expenses impacting their budgets differently than those of working individuals.
