We’re still a few months away from the official 2027 Social Security cost-of-living adjustment (COLA) announcement, but we already have an idea of where checks could wind up next year. Projections suggest all beneficiaries will receive an above-average boost, though the exact increase will vary by person.
Some seniors could see a boost of nearly $200 per month, while others could get less. Here’s how to know what you should plan for next year.
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Expect the 2027 Social Security COLA to be around 3.8%
We won’t know the actual 2027 Social Security COLA until Oct. 14. That’s when we get the final piece of data needed for the calculation. But recent estimates from The Senior Citizens League (TSCL) put the COLA at about 3.8%.
This would add about $197 to the current maximum $5,181 monthly checks, bringing them to around $5,378 per month. But most people will probably get less than this.
The average $2,084 Social Security retirement benefit as of June 2026 would only climb $79 to about $2,163 per month. You may get slightly more or less than this depending on how your checks compare to the current average.
Though a 3.8% COLA would be above average compared to the last 50 years, it might be less than you were hoping for. There is still time for this to change if inflation increases over the next few months. This could lead to a larger COLA than expected, but it also means you’ll face a higher cost of living.
How to prepare for the 2027 Social Security COLA
If you want a rough estimate of how much the 2027 COLA will add to your benefit, you can use the 3.8% estimate as a starting point. Multiply your check by this amount to see how much more you’ll get next year. But remember, this is only a ballpark figure.
You’ll need to repeat the same process in October when the Social Security Administration announces the official COLA. Then, you’ll be able to plan your budget for next year.
But keep in mind that your Medicare Part B premiums will likely increase as well. This could offset some of your COLA gains.
The Social Security Administration will send you a personalized COLA notice in December with your exact benefit amount, including your new Medicare Part B premium deduction. If you still have questions about your checks after this, you can call the Social Security Administration or schedule an appointment with your local field office.
