Social Security Benefits to Increase 3.6% in 2027
The U.S. Social Security Administration announced a 3.6 percent cost-of-living adjustment (COLA) for 2027. Average monthly checks will increase by $75 for approximately 72 million beneficiaries.
The U.S. Social Security Administration (SSA) has announced a 3.6 percent cost-of-living adjustment (COLA) set to take effect in January 2027. This adjustment will provide higher benefits to an estimated 72 million Social Security recipients.
The increase will raise the average monthly Social Security payment by $75. This 2027 adjustment follows a 2.8 percent increase that took effect in 2026. The agency also stated that approximately 7.3 million Supplemental Security Income (SSI) beneficiaries will see increased payments starting December 31.
In addition to the COLA, the SSA reported that the maximum amount of earnings subject to Social Security tax will rise to $192,300 for 2027. The earnings limit for workers younger than full retirement age will increase to $25,560. For those reaching full retirement age in 2027, the earnings limit will be $67,920.
Beneficiaries with a "my Social Security" online account can view their COLA notice starting in late November. Those who do not opt for paperless notices will receive the information by mail in December.