Forecasts Put 2027 Social Security COLA Near 3.5%

A mid‑3% boost would raise average monthly checks by a modest amount and Medicare premiums plus a looming trust‑fund shortfall could erase much of that gain.

Overview

Advocacy trackers led by The Senior Citizens League are projecting a roughly 3.5% cost‑of‑living adjustment for 2027 that would raise the average benefit from $1,941.76 to about $2,009.72.
The final COLA is not set and will depend on the Bureau of Labor Statistics’ September CPI‑W reading and the Social Security Administration’s announcement scheduled for October 14.
Many retirees could see little net benefit because Medicare Part B premiums, income‑related Medicare surcharges and federal taxes are commonly deducted from Social Security checks.
Federal trustees project a key source of Social Security funding could be exhausted around 2032, which could force roughly 22% cuts to benefits unless Congress acts.
Retirees on fixed incomes say the January COLA timing leaves them exposed to current price spikes and surveys show many lack confidence that Social Security and Medicare will hold their value going forward.