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Social Security announces cost-of-living adjustment for 2027
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The Social Security Administration on Wednesday announced a 3.6% cost-of-living adjustment (COLA) for 2027.
The COLA is determined using the consumer price index for urban wage earners and clerical workers (CPI-W) data for the third quarter of the year, including the months of July, August and September. It aims to ensure that the purchasing power of Social Security benefits isn't eroded by inflation.
Social Security Benefits to Increase by $75 a Month on Average in 2027: What Retirees Need to Know
Millions of Americans receiving Social Security benefits will see more money in their monthly checks next year.
The Social Security Administration announced on Wednesday, October 14, that benefits will increase by 3.6 percent in 2027, and it marks the largest cost-of-living adjustment (COLA) since 2023.
According to the agency, the increase will give the average retired worker an additional $75 per month, or roughly $900 over the course of an entire year.
The adjustment will affect approximately 76 million Americans who receive Social Security or Supplemental Security Income (SSI) benefits.
Social Security recipients will begin receiving their increased payments in January 2027, while those collecting SSI will see the adjustment starting on December 31, 2026.
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