COLA 2027: Social Security Announces 3.6 Percent Benefit Increase for 2027
Social Security benefits and Supplemental Security Income (SSI) payments for 76 million Americans will increase 3.6 percent in 2027. On average, Social Security retirement benefits will increase by about $75 per month starting in January.
Nearly 72 million Social Security beneficiaries will see a 3.6 percent cost-of-living adjustment (COLA) beginning in January 2027. Increased payments to about 7.3 million people receiving SSI will begin on December 31, 2026.
Other Annual Adjustments
Several other adjustments that take effect in January of each year are based on increases in average wages. For example, the maximum amount of earnings subject to the Social Security tax, known as taxable maximum, is slated to increase to $192,300 from $184,500 in 2027.
How to View Your COLA Notice
The fastest way to view your COLA notice is online, inside your online my Social Security account. If you are set to receive paperless notices, you may securely view and save your COLA notice in the Message Center starting in late November.
You must create your online my Social Security account and enroll in paperless notices by November 18 to see your COLA notice online. You can create your personal my Social Security account today at www.ssa.gov/myaccount.
Social Security will send paper notices with updated benefit amounts in early December.
Medicare Information
Information about Medicare changes for 2027 will be available on the Medicare website at www.medicare.gov.
For Social Security beneficiaries enrolled in Medicare, the 2027 benefit amount will be available in their personal my Social Security account’s Message Center starting in late November. Those who do not have an online my Social Security account will receive their COLA notice by mail in December.
How the COLA Is Calculated
The Social Security Act establishes the annual COLA is calculated. The adjustment is based on changes in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) as determined by the Department of Labor’s Bureau of Labor Statistics.
You can find more information about the 2027 COLA at www.ssa.gov/news/en/cola.