Social Security 2027 COLA projections suggest 3.5% to 3.6% increase

The Social Security Administration is expected to announce the official 2027 cost-of-living adjustment (COLA) on October 14, 2026. This adjustment is determined by the average annual change in the U.S. Consumer Price Index during the third calendar quarter of the year.

Current projections from organizations such as The Senior Citizens League and AARP place the estimated COLA between 3.5% and 3.6%. This would represent an increase over the 2.8% hike seen in 2026. For a typical beneficiary, a 3.5% to 3.6% increase could result in a monthly payment boost of approximately $68 to $75.

In addition to the COLA, changes to the Social Security wage cap may impact higher earners in 2027. As the cap typically increases in line with wage gains, more high-income workers may be subject to payroll taxes on a larger portion of their earnings, though this is unlikely to affect the median American worker.