Early forecasts suggest Social Security recipients could receive a larger cost-of-living adjustment in 2027 than they did this year, though the official increase won’t be known until October.
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Some Connecticut residents who receive Supplemental Security Income won’t have to wait until August for their next payment.
Because Aug. 1 falls on a Saturday this year, the Social Security Administration will issue August SSI payments on Friday, July 31, the last business day before the weekend. The earlier payment is a scheduling adjustment, not an extra benefit, meaning recipients will not receive another SSI payment during August.
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The payment schedule comes as early forecasts suggest Social Security recipients could receive a larger cost-of-living adjustment in 2027 than they did this year, though the official increase won’t be known until October.
The annual adjustment, known as the COLA, is determined automatically under federal law using a formula based on inflation. Specifically, the agency compares the average Consumer Price Index for Urban Wage Earners and Clerical Workers during July, August and September with the same three-month period a year earlier. The CPI is calculated and published each month by the U.S. Bureau of Labor Statistics.
With only one of the three monthly inflation reports used in the calculation now available, the final adjustment remains uncertain. Based on inflation data released so far, The Senior Citizens League, a nonpartisan seniors advocacy organization that tracks Social Security policy, estimates the 2027 COLA will be 3.8%.
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That estimate could rise or fall depending on inflation readings for August and September before the Social Security Administration announces the official adjustment in October.
The increase will affect hundreds of thousands of Connecticut residents. According to the Social Security Administration, 708,710 state residents receive Social Security retirement, disability or survivor benefits.
Another 66,659 Connecticut residents received Supplemental Security Income in June. SSI is a separate federal program for older adults and people with disabilities who have limited income and resources.
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Of Connecticut’s SSI recipients, 58,321 qualified because they were blind or disabled, while 8,338 qualified based on age. More than 20,500 recipients were 65 or older, and 9,353 were children under 18. Connecticut also provides a state-funded supplement for some SSI recipients in addition to the federal benefit.
August payment schedule
After SSI recipients receive their August benefit on July 31, Social Security beneficiaries who began receiving benefits before May 1997 will receive their monthly payment Aug. 3.
For most other Social Security recipients, payment dates depend on their birthdays. Beneficiaries born between the 1st and 10th of the month are scheduled to receive benefits Aug. 12. Those born between the 11th and 20th are set for Aug. 19, while beneficiaries born between the 21st and 31st are scheduled for Aug. 26.
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The Social Security Administration advises beneficiaries who do not receive an expected direct deposit on their scheduled payment date to allow three additional mailing days before contacting the agency, as banks and financial institutions can occasionally delay processing.
How the 2027 COLA is determined
The Social Security cost-of-living adjustment is intended to preserve beneficiaries’ purchasing power as consumer prices rise.
Each year, the Social Security Administration compares the average CPI during July, August and September with the average for the same period a year earlier. If prices have increased, monthly benefits rise by the same percentage beginning with payments issued in January. If inflation remains flat or declines, there is no automatic increase.
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Because the calculation depends entirely on inflation during those three months, the estimate can still change if consumer prices accelerate or cool during August and September. The Bureau of Labor Statistics is scheduled to release inflation reports in August and September before the Social Security Administration announces the official COLA in October.
If The Senior Citizens League’s forecast proves accurate, the 2027 adjustment would be larger than the 2.8% COLA for 2026, though well below the 8.7% increase in 2023, which reflected the highest inflation in four decades. The COLA was 3.2% in 2024 and 2.5% in 2025, according to Social Security Administration records.
The Social Security Administration reports the average monthly retirement benefit is $2,071. A 3.8% COLA would increase that average benefit by roughly $79 per month, although actual increases vary based on each recipient’s monthly benefit.
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The Social Security Administration is expected to announce the official 2027 cost-of-living adjustment in October after the Bureau of Labor Statistics releases September’s CPI report. Any increase would take effect with benefits paid beginning in January 2027.
