Millions of Americans are just days away from learning how much their Social Security benefits will increase in 2027, with the annual cost-of-living adjustment, or COLA, expected to be announced on Wednesday, October 14.
The Social Security Administration has not yet announced the official 2027 COLA. The final number will depend on September inflation data from the Bureau of Labor Statistics, scheduled for release at 8:30 a.m. Eastern Time on October 14.
The announcement will affect tens of millions of people receiving Social Security retirement, disability, survivor and Supplemental Security Income benefits.
2027 Social Security COLA could be around 3.5%
The Senior Citizens League, a nonpartisan organization representing older Americans, currently estimates that the 2027 Social Security COLA will be 3.5%.
That would be higher than the 2.8% COLA for 2026 and the 2.5% increase for 2025.
If the final COLA is 3.5%, a beneficiary currently receiving $2,000 per month would see an increase of about $70, bringing the monthly payment to roughly $2,070 before any deductions.
Here is what a 3.5% increase would look like for several benefit amounts:
| Current monthly benefit | Estimated 3.5% increase | Estimated 2027 benefit |
|---|---|---|
| $1,000 | $35 | $1,035 |
| $1,500 | $52.50 | $1,552.50 |
| $2,000 | $70 | $2,070 |
| $2,500 | $87.50 | $2,587.50 |
| $3,000 | $105 | $3,105 |
The actual increase will depend on each beneficiary’s current payment and the official COLA announced by the Social Security Administration.
When will the 2027 Social Security COLA be announced?
The key inflation report is scheduled to be released by the Bureau of Labor Statistics on Wednesday, October 14, 2026, at 8:30 a.m. ET.
The September Consumer Price Index report will provide the final inflation figure needed to calculate the 2027 COLA.
The Senior Citizens League says the Social Security Administration is expected to announce the official adjustment on October 14 following the release of the inflation data.
How Social Security calculates the COLA
Social Security’s annual COLA is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W.
The government compares the average CPI-W for July, August and September of the current year with the average for the same three-month period in the previous year.
If prices have increased, the percentage difference generally becomes the following year’s Social Security COLA.
July’s CPI-W was up 3.4% from a year earlier, while August’s CPI-W was up 3.5%. September’s figure will complete the calculation needed for the official 2027 adjustment.
2027 COLA expected to be higher than 2026
Social Security beneficiaries received a 2.8% COLA for 2026. The Social Security Administration estimated that the adjustment increased the average retired worker’s monthly benefit by roughly $56 to $57 at the start of 2026.
If the 2027 COLA comes in near the projected 3.5%, it would provide a larger percentage increase than beneficiaries received this year.
The Senior Citizens League’s projection has changed during 2026 as inflation data developed. Its estimate stood at 3.8% in July, fell to 3.6% after July inflation data and moved to 3.5% following the August CPI report.
The organization described the 3.5% estimate as its final projection before the official announcement.
When will the 2027 COLA increase take effect?
For Social Security beneficiaries, the new COLA will generally be reflected in payments beginning in January 2027.
Supplemental Security Income recipients typically receive their COLA-adjusted payment earlier because of the payment calendar.
Beneficiaries should eventually receive information from the Social Security Administration showing their individual 2027 benefit amount.
Medicare costs could affect the actual increase
A higher COLA does not necessarily mean retirees will see the entire increase in their bank accounts.
Many Social Security recipients have Medicare Part B premiums deducted directly from their monthly benefits. Changes in Medicare premiums can therefore reduce the net increase beneficiaries actually receive after the COLA takes effect The final impact will depend on a person’s Social Security benefit, Medicare costs and any other applicable deductions.
What happens next
All attention now turns to the September inflation report due October 14.
Once the Bureau of Labor Statistics publishes the final CPI-W figure, the official Social Security 2027 COLA can be calculated and announced. Until then, 3.5% remains a projection rather than the official 2027 COLA.
