The Social Security Administration is expected to announce its cost-of-living, or COLA increases for 2027 Wednesday, with big implications for recipients as experts predict a benefit increase that may be higher than average.
As the announcement approaches, here’s what to know.
When, what time is the Social Security COLA announcement?
The official announcement is slated for Oct. 14, the agency said.
Notices last year became available online to most beneficiaries in the Message Center of their my Social Security account.
“The purpose of the COLA is to ensure that the purchasing power of Social Security and Supplemental Security Income (SSI) benefits is not eroded by inflation,” the administration’s website states.
An exact time of when the announcement would be made wasn’t immediately clear, though it is expected to come after the US Bureau of Labor Statistics releases its September 2026 Consumer Price Index. That report is scheduled to be released at 7:30 a.m. CT.
How is the COLA calculated?
According to the agency, the cost-of-living adjustment “is based on the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of the last year a COLA was determined to the third quarter of the current year.”
In other words, the COLA is automatically applied to benefits to help keep up with inflation.
How much of an increase is expected for 2027? Latest predictions
The Senior Citizens League announced last month that it predicted the adjustment will sit at 3.5%, which if it took effect now would equate to $67.90 more in payments.
“The current average beneficiary receives $1,940.08 in their monthly Social Security check. With a 3.5 percent COLA, that would rise to $ 2,007.98,” TSCL reported.
AARP experts forecast is slightly higher, at a 3.6% increase for benefits next year.
“The biggest thing we’re watching with the COLA announcement coming are short-term shocks to the economy that push inflation way up or down in the next 30 days. Of the three CPI-W figures used to calculate the COLA, two are already in,” TSCL Executive Director Shannon Benton said in a release.’
In 2026, the COLA, which took effect in January, was 2.8%.
“Social Security payments have been automatically adjusted for inflation annually since 1975,” AARP said. “The biggest COLA to date came in 1980, when inflation increased payments by 14.3 percent.”
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