Social Security recipients wondering whether they will receive a Cost-of-Living Adjustment in 2027 still have several weeks to wait before they will find out.
The Cost-of-Living Adjustment is an annual change to Social Security and Supplemental Security Income payments to keep up with inflation, so recipients are given a proportionate check to sustain their buying power of everyday items like gas, food, clothing and more. In 2026, beneficiaries saw a 2.8% COLA increase to their checks, and the adjustment for next year is expected to be much higher.
On Aug. 12, the nonpartisan senior advocacy group, The Senior Citizens League predicted a 3.6% COLA increase for 2027 Social Security and SSI payments, which would boost monthly checks by $69.75.
The official COLA will be announced on Wednesday, Oct. 14, and will go into effect in January 2027.
Social Security is paid through the Social Security Administration to benefit retired workers, those with disabilities or for survivors. The Supplemental Security Income program is also a part of the SSA to provide benefits for those with limited or no income or resources, those aged 65 or older and those with a qualifying disability.
Here’s more on the 2027 COLA:
When will the official 2027 COLA be announced?
The official COLA increase for Social Security payments in 2027 will be announced on Wednesday, Oct. 14, 2026.
Where does the 2027 COLA prediction stand now?
2027 Cost-of-Living Adjustment predictions for Social Security payments in the last three months.
As of Aug. 12, the 2027 COLA forecast was projected to be a 3.6% increase, according to The Senior Citizens League. If that goes into effect, the average Social Security check for retired workers would increase by $69.75, Â from $1,937.53 to $2,007.28.
In July, The Senior Citizens League announced the COLA forecast at 3.8%.
The TSCL releases a COLA prediction each month based on the Consumer Price Index, Federal Reserve interest rate and the National Unemployment rate from the U.S. Bureau of Labor Statistics.
How is the COLA calculated?
The COLA is calculated with a formula, per the Social Security Act. The adjustment is based on the Consumer Price Index for urban wage earners and clerical workers (CPI-W) calculated monthly by the U.S. Bureau Labor of Statistics — CPI-W is the average change over time in the prices paid by urban wage earners and clerical workers for a market basket of consumer goods and services, per the U.S. BLS.
What was the COLA for 2026?
At the beginning of 2026 recipients received a 2.8% COLA for Social Security and Supplemental Security Income (SSI) payments, according to the SSA’s COLA Fact Sheet and American Association of Retired Persons, increasing payments about $56 per month.
When will I get my Social Security checks in August?
— USA TODAY contributed.
Contact Sarah Moore @ smoore@lsj.com
This article originally appeared on Lansing State Journal: Has Social Security announced 2027 COLA? When you’ll find out
