Projected 3.5% Social Security COLA Would Raise Average Benefit to About $2,010

Overview

• Advocacy group The Senior Citizens League and independent trackers forecast roughly a 3.5% cost‑of‑living adjustment for 2027, a gain that remains a projection until the government confirms it.
• The Social Security Administration will announce the official COLA later this month and that figure will determine benefits paid next year.
• Social Security data show a 3.5% increase would move the average monthly check from $1,941.76 to about $2,009.72, a rise of roughly $68.
• Out‑of‑pocket Medicare costs, including Part B premiums and income‑related surcharges, often consume much of headline COLA gains and will cut into many beneficiaries' net increases.
• Federal trustees project a key funding source could be exhausted by about 2032, which could trigger roughly a 22% cut to benefits if Congress does not act, and many retirees say they lack confidence that future benefits will match their needs.