Social Security COLA Projected at 3.5% to 3.6% for 2027
Social Security payments could rise by 3.5% to 3.6% in 2027, exceeding the historical average. A 3.5% increase would boost average monthly checks by $67.90, bringing average benefit payments to roughly $2,008 per month up from $1,940.
Despite the larger boost, many retirees worry the adjustment will fail to keep pace with living expenses. In a survey of 1,023 adults aged 50 and older, 76% indicated that a 3.5% increase would not adequately cover their expanding costs. Furthermore, rising Medicare premiums will absorb part of the gain. Monthly Medicare Part B rates are projected to increase from $202.90 in 2026 to $209.50 in 2027, while Part D costs may also move higher. To help with premium expenses, one-time $90 direct payments are being sent to more than 20 million Medicare Part B enrollees.
The Social Security Administration will formally announce the official 2027 adjustment on Wednesday when the government releases updated inflation figures.
Key points
- Estimates project a 3.5% to 3.6% Social Security cost-of-living adjustment for 2027.
- A 3.5% adjustment would raise the average monthly benefit by $67.90 to approximately $2,008.
- A survey of adults aged 50 and older found 76% believe a 3.5% COLA will not cover rising costs.
- Standard monthly Medicare Part B premiums are projected to rise to $209.50 in 2027.
- The official COLA figure will be released Wednesday alongside government inflation data.
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What is the projected Social Security COLA for 2027?
Estimates project the 2027 Social Security cost-of-living adjustment will range between 3.5% and 3.6%. A 3.5% increase would add about $67.90 per month to the average benefit check.
When will the official 2027 Social Security COLA be announced?
The Social Security Administration will officially announce the 2027 COLA on Wednesday alongside new government inflation data.
How much will Medicare Part B premiums rise in 2027?
Standard monthly Medicare Part B premiums are projected to increase from $202.90 in 2026 to $209.50 in 2027.