Benefits for 2 Million People Could Finally Pass the $1,000 a Month Mark

Social Security recipients are on track to receive their biggest Cost of Living Adjustment in four years. That change, driven by high inflation, will likely push one group’s average payment above $1,000 a month. The Senior Citizens League estimates the 2027 Cost of Living Adjustment will be 3.6 percent, raising the average retirement benefit to $2,161 a month. About 2 million people receive spousal benefits averaging $986 a month, and the average spousal benefit could pass $1,000 for the first time.