Millions of Americans receiving Social Security benefits will see more money in their monthly checks next year.
The Social Security Administration announced Wednesday, Oct. 14, that benefits will increase by 3.6% in 2027 as part of its annual cost-of-living adjustment, or COLA.
For the average retiree, that means about $75 more per month, or roughly $900 over the course of the year.
The increase will affect nearly 72 million Social Security beneficiaries, including retirees, people with disabilities and survivors. An additional 7.3 million people receiving Supplemental Security Income (SSI) will also see higher payments, although some individuals receive both types of benefits.
“Social Security will implement this cost-of-living adjustment for 76
million Americans, giving them greater financial stability,” said Commissioner Frank J. Bisignano. “Under President Donald J. Trump, Social Security is delivering better, faster, higher-quality service for the American people."
The 3.6% increase is higher than the 2.8% adjustment beneficiaries received in 2026 and marks the largest increase since the 8.7% adjustment announced in 2022, which took effect in 2023.
The latest increase comes as Americans continue to face higher costs for everyday necessities, including groceries, housing, utilities and health care.
According to the latest inflation report, consumer prices rose 3.7% in September compared with a year earlier, driven in part by a 5.2% increase in energy prices. Excluding food and energy, the core inflation rate stood at 2.6%, according to USA TODAY.
Social Security's annual COLA is designed to help benefits keep pace with inflation.
Natassia Paloma may be reached at npaloma@gannett.com, @NatassiaPaloma on X, natassia_paloma on Instagram, and Natassia Paloma on Facebook.
This article originally appeared on El Paso Times: Social Security makes cost of living increase in 2027. See How much
