Social Security could increase by 2.8% in 2027, according to the latest cost-of-living adjustment predictions from the Senior Citizens League.
According to a report released in April by the league based on the most recent Consumer Price Index data, the average monthly payment for Social Security beneficiaries and Supplemental Security Income could increase by approximately $57 to keep pace with increasing cost-of-living expenses as inflation rises. In 2026, the adjustment was also 2.8%, or about $56 more every month on average.
Nationally, about 71 million people receive Social Security benefits and about 7.5 million receive SSI, but some people receive both. According to research from AARP, about 1.5 million people in Arizona receive Social Security benefits.
Here’s everything you need to know about the projected cost-of-living adjustment for Social Security benefits next year.
What does COLA mean?
COLA stands for cost-of-living-adjustment. These automatic changes are made to Social Security and Supplemental Security Income benefits to keep the purchasing power of these payments constant as prices rise.
What is the Social Security COLA increase for 2026?
Social Security and SSI benefits for 75 million Americans increased by 2.8% in 2026.
When will Social Security COLA increase for 2027 be announced?
The Social Security Adminstration website indicates that the COLA announcement will come in October 2026.
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What is the projected COLA increase for 2027?
Based on most recent Consumer Price Index data, TSCL predicts that the 2027 COLA increase will be the same as the 2026 increase: 2.8%. Average benefits checks for retired workers would increase by $56.69, from $2,024.77 to $2,081.46.
What are the COLA increases for the last five years?
According to the SSA, the past five years of COLA increases have been:
What is the average Social Security payment?
The average monthly Social Security benefit for all beneficiaries was $1,931.05 in March 2026, according to SSA data.
How many people in Arizona receive Social Security benefits?
The SSA website lists 10,437 Arizona residents receiving SSI benefits as of May 2025. More than 1.5 million Arizonans receive Social Security checks, according to the Arizona attorney general’s website.
How many people in the US receive Social Security benefits?
Across the nation, 74,090,000 people were receiving Social Security benefits as of May 2025. This includes 57,164,000 eligible due to their age and 16,927,000 eligible due to blindness, another disability, or other reasons.
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This article originally appeared on Arizona Republic: Social Security COLA predictions are out. What to know in Arizona
