October is a key month for Social Security recipients, as millions of Americans are preparing to learn how much their benefits could increase in 2027.
The Social Security Administration is expected to announce the 2027 cost-of-living adjustment, or COLA, on Wednesday, Oct. 14. The annual adjustment determines how much Social Security and Supplemental Security Income benefits will increase next year and can affect recipients' budgets and retirement planning.
When will the official 2027 Social Security COLA be announced?
The Social Security Administration is expected to announce the official 2027 COLA on Wednesday, Oct. 14.
How is the Social Security COLA calculated?
The Social Security Administration bases its annual COLA on the average increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers, known as CPI-W, during July, August
and September.
The Bureau of Labor Statistics releases the inflation data used in the calculation. The September figure will complete the data needed to determine the 2027 COLA.
What is the latest 2027 Social Security COLA estimate?
Several recent forecasts have placed the 2027 COLA in the mid-3% range.
AARP projects a 3.6% increase, while the Senior Citizens League's latest forecast calls for a 3.5% increase. Neither estimate is official, and both could change before the Social Security Administration announces the final COLA.
If the final COLA comes in around those estimates, it would be higher than the 2.8% increase beneficiaries received for 2026. A 3.5% increase also would be the largest annual adjustment since 2023, when benefits increased 8.7%.
Independent Social Security analyst Mary Johnson recently estimated a 3.4% COLA, while the Senior Citizens League projected 3.5%. Other forecasts have generally ranged from about 3.2% to 3.6%, depending on inflation data and assumptions.
The estimates are not official and could change as additional inflation data is released.
How much could Social Security checks increase in 2027?
The average monthly benefit for retired workers was $2,085.98 in July 2026, according to the Social Security Administration.
Using that average benefit:
- A 3.4% COLA would increase the average benefit by about $71 per month.
- A 3.5% COLA would increase it by about $73 per month.
- A 3.6% COLA would increase it by about $75 per month.
Actual increases will vary depending on each recipient's current monthly benefit.
What was the Social Security COLA increase for 2026?
The Social Security Administration announced a 2.8% COLA for 2026. The increase was larger than the 2.5% adjustment for 2025 but well below the 8.7% increase for 2023.
Social Security payment calendar
The Social Security Administration has published its 2027 schedule for benefit payments.
In general, Social Security payments are distributed each month according to the following schedule:
- Third day of the month: People who began receiving benefits before May 1997, unless the payment date falls on a weekend or holiday.
- Second Wednesday of the month: People whose birthdays fall between the first and 10th.
- Third Wednesday of the month: People whose birthdays fall between the 11th and 20th.
- Fourth Wednesday of the month: People whose birthdays fall between the 21st and 31st.
People who receive both Social Security and SSI generally receive their Social Security payment on the third day of the month and their SSI payment on the first day of the month.
If the first day of the month falls on a weekend or holiday, the SSI payment is issued on the last business day of the previous month.
For example, SSI recipients will receive their January 2027 payment on Thursday, Dec. 31, 2026. The payment will reflect the 2027 COLA. The SSA has published the 2027 payment calendar.
What is SSI?
Supplemental Security Income provides monthly payments to people who meet certain income and resource requirements and are:
- Age 65 or older.
- Blind.
- Disabled and meet the program's eligibility requirements.
SSI is separate from Social Security retirement benefits, although some people receive both programs.
This article originally appeared on Rochester Democrat and Chronicle: When will Social Security announce the 2027 COLA? What to know
