TheSocial Security Administration has confirmed that more than 70 million recipients will get their largest increase in payments since 2022 - with the current rate of inflation in the U.S., studies show the added funds may not go as far as many recipients would prefer.
Annual cost-of-living-adjustment increases are intended to help beneficiaries, mostly seniors, keep up with inflation and maintain the same standard of living. Despite the increase marking one of the largest in years, many such recipients feel that the 2027 COLA increase will not be sufficient to cover increasing costs.
According to a September survey of 1,023 adults age 50-plus by nonprofit AARP, most Social Security recipients say they've fallen short, with only 23% of adults over
50 years old feeling that a COLA rate roughly equivalent to this year's increase feels like it keeps up with rising prices.
Here's what North Carolina Social Security recipients need to know about the increase announcement, inflation and more.
Was the 2027 Social Security COLA announced?
The 2027 COLA increase rate was announced Wednesday, Oct. 14, 2026, as expected.
What does COLA mean?
COLA stands for cost-of-living adjustment. These automatic changes are made to Social Security and Supplemental Security Income benefits to keep the purchasing power of these payments constant as prices rise.
What is the COLA increase for 2027?
The COLA increase for 2027 is 3.6%, the largest increase since the 8.7% COLA increase in 2022, when inflation reached a 40-year high.
What is the inflation rate in 2026?
Recent data shows that annual inflation in September 2026 was 3.7%, mainly driven by a 5.2% jump in energy prices. As reported by USA TODAY, the "core inflation rate" excluding energy and food in September was 2.6%.
How much will Social Security checks increase in 2027?
A 3.6% COLA means that the average benefit check of $2,087.52 will rise to $2,162.67 each month starting in January, a rise of an additional $75.15 per month, or $901.81 annually.
What was the Social Security COLA increase for 2026?
Social Security and SSI benefits for 75 million Americans increased by 2.8% in 2026.
What are the COLA increases for the last five years?
The 2027 COLA increase is now confirmed to be larger than the increases beneficiaries received for 2026 and the biggest annual adjustment since at least 2023. According to the Social Security Administration, the past five years of COLA increases have been:
- 2022 - 8.7%
- 2023 - 3.2%
- 2024 - 2.5%
- 2025 - 2.8%
- 2026 - 2.8%
What is the average Social Security payment?
The average monthly Social Security benefit for all beneficiaries was $1,931.05 in March 2026, according to SSA data.
How many people in North Carolina receive Social Security benefits?
The SSA website lists 217,030 N.C. residents receiving SSI benefits as of May 2025. The most recent data available for the state is for December 2024, when the agency identified 2,329,477 beneficiaries.
How many people in the U.S. receive Social Security benefits?
Across the nation, 74,090,000 people were receiving Social Security benefits as of May 2025. This includes 57,164,000 eligible due to their age and 16,927,000 eligible due to blindness, another disability or other reasons.
Iris Seaton is the trending news reporter for the Asheville Citizen Times, part of the USA TODAY Network. Reach her at iseaton@citizentimes.com.
This article originally appeared on Asheville Citizen Times: 2027 Social Security COLA increase confirmed. Many feel it's too low
