(Gray News) – The Social Security Administration is expected to announce next year’s cost-of-living adjustment, or COLA, in October.
Retirees can expect to know the official number on Oct. 14 at 8:30 a.m., when the September Consumer Price Index data is also scheduled to be released.
Those receiving financial support from the government program are forecast to see an increase in 2027 ranging from 3.2% to 3.6% in their monthly paychecks.
FILE — A traditional paper Social Security benefit payment comes in the form of a light-green U.S. Treasury check. (Tony / MGN)
AARP estimates that retirees’ cost-of-living adjustment could be at the higher end of that range, at about 3.6%.
The organization that advocates for people 50 and older said the bump would increase the average retired worker’s monthly benefit by approximately $75, noting its estimate is based on projections from the Federal Bureau of Labor Statistics and the Federal Reserve.
The Senior Citizens League, a nonpartisan group advocating for seniors, is also projecting a COLA increase close to 3.6% for 2027, which would raise average monthly benefits by $69.75 if the increase took effect immediately.
In 2026, the Social Security Administration announced that its COLA was 2.8%, benefiting approximately 75 million Americans.
The annual COLA is intended to help recipients keep pace with inflation and assist with daily expenses, including groceries, utilities and housing.
According to the Bureau of Labor Statistics, the latest reported 12-month inflation rate was 3.4% for the period ending in July.
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