Social Security 2027 COLA Expected Near 3.5%

Social Security’s 2027 cost-of-living adjustment is projected to rise between 3.4% and 3.6%, potentially making it the largest increase since 2023 and adding roughly $68 to $71 a month for the average beneficiary. The final figure will be based on third-quarter inflation data and is expected to be announced by the Social Security Administration on Oct. 14, with the increase taking effect in January. The adjustment could lift the average spousal benefit, now about $987 a month, above $1,000 if the COLA reaches 3.6%, though individual increases will depend on current benefit amounts. Beneficiaries and advocates caution that higher prices for necessities, Medicare premiums and other expenses could absorb much of the increase, while policy debates continue over the program’s long-term solvency and how COLAs are calculated.