Social Security COLA 2027: Will retirees get $75 more per month?

Millions of Social Security recipients may see a little more money in their monthly checks next year. With forecasts pointing to a possible 3.6% cost of living adjustment for 2027, so if the estimate holds, the average retired worker may receive about $75 more each month.

AARP’s projection is based on the average monthly retirement benefit of $2086 in July 2026. The increase is not yet official, however. The Social Security Administration is expected to announce the final figure on Wednesday, October 14 after the release of September inflation data.

The Senior Citizens League has offered a slightly lower estimate. Forecasting a 3.5% increase. But both projections suggest a larger adjustment than the 2.8% increase beneficiaries received in 2026.

Social Security COLA 2027: How Much Could Monthly Checks Increase

A 3.6% adjustment would add roughly $75 a month to a benefit of $2086. That works out to about $900 over a full year, provided the increase applies throughout 2027.

The actual amount will depend on each recipient’s current benefit. People who receive less than the average would see a smaller dollar increase, while those with larger benefits could receive more.

The Senior Citizens League lowered its estimate from 3.8% in July to 3.5% in September. AARP’s forecast remains at 3.6%, but neither figure is final.

When Will the Official 2027 COLA Be Announced

The Social Security Administration is expected to announce the adjustment on October 14. The Bureau of Labor Statistics is scheduled to release September’s inflation report at 8:30 am Eastern time that day.

September’s figures will complete the data needed for the calculation.

When Will Recipients Get Higher Social Security Payments

Beneficiaries will not need to apply for the increase. Eligible payments will be adjusted automatically, with the higher Social Security benefits scheduled to begin in January 2027.

SSI payments generally arrive on the first day of each month. Because Jan. 1, 2027, is a federal holiday, the January payment is scheduled for Dec. 31, 2026.

Medicare Premiums Could Affect the Final Amount

The full COLA increase may not translate into the same amount of extra money for every recipient. People enrolled in Medicare Part B have their premiums deducted directly from Social Security payments.

The 2027 Part B premium has not been announced yet. Once that figure is available, beneficiaries will have a clearer picture of how any premium change could affect their payments after deductions.

For now, the projected 3.5% to 3.6% increase gives recipients an idea of what to expect. The official announcement on Oct. 14 will confirm the adjustment for 2027.