Social Security COLA announcement scheduled for October 2026

The Social Security Administration is scheduled to announce the 2027 cost-of-living adjustment (COLA) on October 14, 2026. Recent estimates from the Senior Citizens League suggest the adjustment may be approximately 3.5%, which would result in an increase of roughly $73 for the average monthly retirement benefit of $2,086.

Recipients will receive personalized notices in early December detailing their exact benefit amounts for 2027. These notices will also include information regarding Medicare Part B premium withholdings.

It is important to note that Social Security COLA increases do not always offset rising Medicare costs. While the COLA is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), Medicare Part B premiums are determined by different factors, including projected healthcare prices and utilization. In some years, such as 2024, the percentage increase in Medicare Part B premiums has exceeded the Social Security COLA, reducing the net monthly income gain for beneficiaries.