Here's How the 2027 Social Security COLA Is Projected to Stack Up to the 2026 COLA

The 2027 Social Security COLA projection just got an update, and it's not great news for seniors hoping for a huge benefit boost. The latest estimate from The Senior Citizens League (TSCL) puts the COLA at 3.6%, 0.2% lower than its previous prediction.

However, there is a silver lining. Even at 3.6%, the 2027 COLA would still be higher than the benefit boost seniors got this year.

In 2026, Social Security benefits increased by 2.8%, so next year's COLA will almost certainly be an increase. But that's different from saying it's going to be life-changing.

The average monthly retirement benefit as of July 2026 is $2,086. A 3.6% COLA would add roughly $75, bringing the new average to about $2,161 per month. That might not be enough to cover all the price hikes you've experienced due to inflation this year.

It is still possible that the 2027 COLA comes in higher than current estimates, but this would require inflation to increase sharply over the next few months. The Social Security Administration bases COLAs on changes in average third-quarter inflation data, so August and September will be critical in determining next year's benefit boost.

The Social Security Administration will officially announce the 2027 COLA on Oct. 14, 2026. At that point, you'll be able to estimate how much your checks will grow next year and begin to plan a 2027 budget that works for you. If you find your benefits won't go as far as you'd hoped next year, you may need to rely more upon personal savings or seek out other retirement income sources to make ends meet.

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