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The Social Security Administration will announce the 2027 cost-of-living adjustment (COLA) on October 14, giving millions of beneficiaries a date to watch as they wait to find out how much their monthly payments could increase next year. The annual adjustment is designed to help Social Security benefits keep pace with inflation.
The exact 2027 COLA is not known yet. However, current inflation data and early estimates suggest that beneficiaries could receive a larger increase than the 2.8% adjustment approved for 2026.
When will Social Security announce the 2027 COLA?
The SSA is scheduled to announce the official 2027 COLA on October 14, 2026. The figure will be based on inflation data from the third quarter of the year.
Social Security uses the Consumer Price Index for Urban Wage Earners and Clerical Workers, known as CPI-W, to calculate the annual adjustment. The agency compares the average CPI-W for July, August, and September with the corresponding period from the previous year.
How much could Social Security benefits increase?
The exact increase will depend on the final inflation figures for August and September. In July, the CPI-W was up 3.4% year over year, according to the latest data cited by The Motley Fool.
The Senior Citizens League currently estimates a 3.6% COLA for 2027. If that estimate becomes the final figure, it would be higher than the 2.8% increase that beneficiaries received in 2026.
Still, the estimate is not official. Beneficiaries will have to wait until October 14 for the SSA’s announcement.
When will the 2027 COLA take effect?
The 2027 COLA will be reflected in Social Security payments beginning in January 2027. The adjustment is intended to protect the purchasing power of benefits as prices rise.
For retirees and other beneficiaries, the October announcement will therefore be an important date because the final percentage will determine how much their monthly Social Security payments change in 2027.