Overview
- The Social Security Administration announced the 3.6% cost‑of‑living adjustment on Oct. 14, 2026, and the raise takes effect with checks payable in January 2027 and SSI rates on December 31, 2026.
- The COLA is calculated from the Bureau of Labor Statistics’ CPI‑W measure using the average of July through September readings, which produced the 3.6% figure.
- Roughly 73–76 million people who receive Social Security or Supplemental Security Income will see an average gross boost of about $72–$75 per month, though individual amounts vary by benefit level.
- Projected increases in Medicare costs, especially Part B premiums that are commonly deducted from Social Security checks, could consume much or all of the new monthly dollars for many beneficiaries.
- Federal trustees project the Old‑Age and Survivors Insurance trust fund may be exhausted around 2032, which could trigger roughly a 20–22% cut to scheduled benefits absent congressional action and is driving debates over payroll tax caps and other fixes.