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The 2027 Social Security COLA is 3.6%, the Social Security Administration announced on Wednesday, October 14. For the average retiree, that means about $75 more each month. Here is who gets the raise, when it starts and what to do before November 18.
Key Takeaways
- The Social Security COLA for 2027 is 3.6%, the largest increase since 2023.
- Nearly 72 million Social Security beneficiaries will see higher checks starting in January 2027.
- About 7.3 million people on Supplemental Security Income (SSI) will get higher payments starting December 31, 2026.
- Retirement benefits will rise by about $75 a month on average, according to SSA.
- To see your COLA notice online, create a my Social Security account and choose paperless notices by November 18.
What SSA Announced About the 2027 Social Security COLA
SSA said benefits will rise 3.6% in 2027. The increase covers retirement, survivors and disability benefits. It also covers SSI, which helps people with very low income.
In its official press release, the agency said nearly 72 million beneficiaries will get the raise in January. Meanwhile, about 7.3 million SSI recipients will see higher payments on December 31, 2026. Some people get both kinds of benefits.
Commissioner Frank J. Bisignano put the total at 76 million Americans. “Social Security will implement this cost-of-living adjustment for 76 million Americans, giving them greater financial stability,” he said.
How Big Is This Raise?
The 3.6% increase is the biggest since 2023, CNBC reported. That year, benefits jumped 8.7%, the highest in four decades. By comparison, the 2026 COLA was 2.8%.
Experts had expected this result. In fact, forecasts last month ranged from 3.5% to 3.6%, according to CNBC.
Why Inflation Pushed It Higher
The raise comes as prices are climbing faster. On the same day, government data showed consumer prices rose 3.7% over the past 12 months. Gas prices jumped, CNBC said.
Still, many older Americans worry it will not be enough. For example, an AARP survey found 76% of respondents said a 3.5% COLA would fall short. AARP also notes how much the program matters. About 40% of beneficiaries 65 and older rely on it for at least half their income.
How to Estimate Your New Social Security COLA Check
First, find your current monthly benefit. Then multiply it by 0.036. The result is roughly how much your check will grow before deductions.
For example, a $2,000 monthly benefit would rise by about $72. So the new amount would be about $2,072. Your actual figure may differ, however.
Keep in mind that $75 is only an average for retirement benefits. People with larger checks will see bigger dollar gains. Meanwhile, people with smaller checks will see smaller ones.
Watch for Medicare Premium Changes
Medicare premiums can take a bite out of your raise. That is because Part B and Part D premiums are often taken directly from benefit checks.
Medicare trustees project the standard Part B premium will be $209.50 a month in 2027. That is up from $202.90 in 2026, CNBC reported. In addition, higher earners may pay extra surcharges called IRMAAs. Part D drug plans may also see modest premium increases, according to KFF.
Key Dates and the November 18 Deadline
SSA will send each beneficiary a one-page COLA notice. It will list your new benefit amount, exact payment dates and any deductions.
Online Notices Arrive First
If you have a my Social Security account, you can view your notice online in late November. That is up to three weeks earlier than a paper letter, SSA said. You can also sign up for text or email alerts.
However, if you do not have an account yet, act soon. You must create one and enroll in paperless notices by November 18 to see your notice online. You can sign up at ssa.gov/myaccount.
Paper Notices Come in December
Everyone else will get a notice by mail in December. Therefore, make sure SSA has your current address on file. Your 2027 Medicare premium will also appear in the online Message Center starting in late November.
Simple Steps to Take Now
Before the notices go out, a few quick moves can save you time later:
- Create or log in to your my Social Security account at ssa.gov/myaccount.
- Choose paperless notices by November 18 if you want to read your notice online.
- Turn on text or email alerts so you know when the notice arrives.
- Update your mailing address if you prefer a paper letter.
- Check medicare.gov for details on 2027 Medicare changes.
How the Social Security COLA Is Calculated
The Social Security Act sets the formula. It ties the COLA to an inflation measure called the CPI-W. The Bureau of Labor Statistics publishes that index.
Specifically, it compares the CPI-W in the third quarter of this year with the third quarter of last year. According to CNBC, the CPI-W rose 3.9% over the past 12 months in September data.
Could the Formula Change?
Some lawmakers and advocates want a different measure. One option is the chained CPI. However, an AARP analysis found it would “substantially lower benefits over time.”
Another idea is the CPI-E, which tracks spending by people 62 and older. Even so, some experts say it does not grow much faster than the current measure. Retirees watching their savings may also want to read our look at recent stock market swings and your 401(k).
Frequently Asked Questions
What is the 2027 Social Security COLA?
The 2027 Social Security COLA is 3.6%. SSA announced it on October 14, 2026.
When will I see the higher payment?
Most Social Security beneficiaries will see it in January 2027. SSI recipients will see higher payments starting December 31, 2026.
How much more will I get each month?
Retirement benefits will rise by about $75 a month on average. To estimate your own raise, multiply your current benefit by 0.036.
What happens on November 18?
That is the deadline to create a my Social Security account and choose paperless notices. If you do, you can see your COLA notice online.
Will Medicare premiums reduce my raise?
They might. Medicare trustees project the standard Part B premium will rise to $209.50 a month in 2027. That premium is often deducted from benefit checks.
Sources
- Social Security Announces 3.6 Percent Benefit Increase for 2027 (Social Security Administration)
- Social Security Administration announces 3.6% cost-of-living adjustment for 2027 (CNBC)
