Social Security's Trump Bump-Driven 2027 COLA Is on Track to Make History 3 Different Ways
Key PointsThe wait is nearly over, with Social Security’s highly anticipated cost-of-living adjustment (COLA) set to be announced on Oct. 14.
The Social Security cost-of-living adjustment (COLA) for 2027 is set to be announced on October 14. This adjustment is a near-annual raise given to the over 71 million traditional beneficiaries to offset inflationary pressures.
The COLA is calculated based on the inflation rate of a broad basket of goods and services regularly bought by seniors. For example, if the cost of these goods and services rises by a certain percentage from one year to the next, Social Security benefits would need to increase by the same percentage to maintain buying power.
The September inflation report, due to be released before October 14, will provide the final data point needed to calculate the 2027 COLA.
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