Overview
- The Social Security Administration announced Oct. 14 that Social Security and Supplemental Security Income will receive a 3.6% COLA for 2027, affecting roughly 72 million to 76 million beneficiaries.
- The adjustment raises the average retired-worker benefit from about $2,095 to $2,170 per month beginning with January 2027 payments.
- SSI recipients will get their January 2027 payment early on Dec. 31, 2026 because Jan. 1 is a federal holiday, and personalized benefit notices will be available online in late November.
- Many beneficiaries may see much of the headline increase absorbed by higher Medicare Part B premiums, income‑related surcharges, and other out‑of‑pocket health costs that reduce net gains.
- The COLA is calculated from year‑over‑year changes in the CPI‑W for the third quarter, the taxable wage base will rise to $192,300 in 2027, and trustees warn of longer‑term funding shortfalls that could require policy action in the early 2030s.