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As gas prices continue to rise, experts are predicting how the increased expense is going to impact the American economy long term. Of concern: the 2027 Social Security Cost-of-Living Adjustment (COLA) amount. We share everything you need to know, including when the official 2027 COLA is expected to be announced, below.
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What we know so far about the Social Security COLA 2027
The Social Security COLA is an annual increase that impacts how much money Americans get in their monthly benefit checks. It’s supposed to help seniors fight inflation, tariffs, increases in the cost of living and more. It’s calculated by the Social Security Administration (SSA) by comparing the Consumer Price Index for Urban Wage Earners and Clerical Workers from the third quarter of the current year to the same quarter of the previous year.
When the COLA is determined, SSA issues a press release detailing the amount. Normally, this happens in October, but unexpected factors like government shutdowns, budgeting issues and wars can delay the announcement.
“Social Security is a promise kept, and the annual cost-of-living adjustment is one way we are working to make sure benefits reflect today’s economic realities and continue to provide a foundation of security,” Social Security Administration Commissioner Frank J. Bisignano said in October 2025. “The cost-of-living adjustment is a vital part of how Social Security delivers on its mission.”
In 2026, the COLA was 2.8 percent, which translated to an average monthly increase of $56 per person. Currently, there is no official word on what the 2027 COLA will be, but experts are speculating that it will be between 1.7 and 2.8 percent.
“Geo/political tensions are driving up the price of oil right now, which will continue to drive up my estimates of the COLA,” Mary Johnson, an independent Social Security and Medicare analyst, told CNBC via email.
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The Congressional Budget Office (CBO) had a different opinion, writing in a February 2026 report that they believe the 2027 COLA will be 3.1 percent. They also predict a 2.5 percent increase for 2028r, followed by a 2.3 percent increase for 2029 and beyond.
No matter what the 2027 COLA is, experts are warning it likely won’t be enough to help seniors out financially.
“Older Americans aren’t buying many products,” Martha Shedden, co-founder and president of the National Association of Registered Social Security Analysts, told U.S. News. “They are spending a disproportionate amount of their money on healthcare and prescriptions.”
Others agree with the sentiment, with Shannon Benton, executive director of The Senior Citizens League, saying in a statement, “Older Americans already feel like their benefits don’t keep up with inflation, so this [lower COLA] risks putting them further and further behind, pushing many into poverty.”
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When will the 2027 COLA be announced?
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The Senior Citizens League reports that the 2027 COLA will be announced in October 2026.
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