The First 2027 Social Security Cost-of-Living Adjustment (COLA) Projections Are in, and the News Isn't Great

By now, you may have received your 2026 Social Security benefit with the 2.8% cost-of-living adjustment (COLA) factored in -- or at least you know the amount that's coming soon. It's nice to have a little more money, but if you're like most beneficiaries, you were probably hoping for a bigger increase.

We're now getting our first look at what the 2027 COLA might look like for seniors. The news, while not unexpected, might be a little disappointing for those hoping that their checks might take a huge jump next year.

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The 2027 COLA will likely be around 2.5%

The Senior Citizens League (TSCL), a nonpartisan senior group, currently estimates that the 2027 Social Security COLA will land somewhere around 2.5%. This is 0.3% lower than the 2026 COLA and roughly in line with the average over the last few decades.

A 2.5% increase would add about $52 to the current $2,071 average retirement benefit, bringing it to $2,123 per month.

It's possible that the official COLA could come in higher than this. The Social Security Administration won't announce it until the middle of October 2026, and TSCL has changed its projections in the past. A year ago, it estimated the 2026 COLA would be 2.1%, but its predictions gradually increased in response to rising inflation throughout the year.

That said, it's not likely to change drastically, so the chances of a significant increase are small. For some, the COLA may not even be enough to counter rising costs.

How seniors can prepare

You can't control the COLA, but there may be other ways you can get the money you need if you're worried Social Security may not go far enough next year. Obviously, if you have personal savings, you can rely more heavily upon those.

If you're still able to work, part-time employment can give you access to a steady paycheck you can use to supplement your checks. Some people also find it gives them a sense of purpose.

There might also be other resources available to you at the federal, state, or local level to help you keep your living costs affordable. Check with your state social services agency to learn more about your options.

Keep an eye out for future Social Security COLA projections, too. These tend to get more accurate as we near the announcement date, so watching for the latest updates can give you a better idea of what to expect in 2027.

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