‘A pittance’: Social Security benefits will rise 3.6% in 2027, about $75 a month for the average retiree, but some say it’s not enough
The 2027 cost-of-living adjustment comes as inflation hits 3.7% and older Americans struggle with rising healthcare, grocery and gas bills.
The Social Security Administration announced that the annual cost-of-living adjustment (COLA) for retirees and disabled beneficiaries will rise by 3.6% in 2027, beginning next year. This increase translates to an extra $75 per month for the nearly 72 million people receiving Social Security benefits and about 7.3 million beneficiaries of Supplemental Security Income.
The adjustment is financed by payroll taxes collected from workers and their employers, with the salary limit set to increase to $192,300 in 2027, up from $184,500 in 2026.
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Also reported by 4 other outlets
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- Social Security's 2027 COLA Is Officially the 5th-Largest in 35 Years -- but This Doesn't Tell the Full Story nasdaq.com
- Social Security’s COLA will be 3.6% in 2027 as inflation persists marketwatch.com
