How Much Will Your Benefit Increase Be?

Key Points:

• Approximately 70 million Social Security and Supplemental Security Income beneficiaries will receive increased monthly payments in 2027, with the cost-of-living adjustment (COLA) announced on October 14 following the release of September’s Consumer Price Index data.
• The 2027 COLA is estimated by The Senior Citizens League to be around 3.5%, a four-year high that would raise the average monthly benefit by about $67.90, though the final figure depends on inflation data for September.
• This potential 3.5% increase surpasses the 2.8% raise in 2026 and 2.5% in 2025, reflecting ongoing inflation concerns, while advocacy groups and AARP have released early forecasts to help recipients plan their budgets.
• Many Social Security recipients have already adjusted their spending due to inflation, with surveys showing over half cutting discretionary purchases and over a third reducing spending on essentials like groceries and prescriptions.
• The payment schedule for late 2026 will see some changes, including two SSI payments in October 2026 and none in November, as well as an early payment in late December due to the New Year’s Day holiday.