The Social Security Administration will announce the 2027 cost-of-living adjustment for social security benefits on October 14 at 8:30 a.m. ET, when the agency releases the official percentage increase that will take effect in January 2027.
The COLA is determined by comparing the average Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the third quarter of the prior year to the same three-month period in the current year. This year, the calculation will use July, August, and September inflation data to determine how much beneficiaries’ payments will rise.
Current projections suggest the 2027 COLA will land near 3.6 percent, according to the Senior Citizens League, which tracks Social Security adjustments monthly. The American Association of Retired Persons (AARP) estimates the increase at 3.5 percent. At a 3.6 percent rate, the average monthly benefit would rise by approximately $75, from roughly $2,071 to $2,146, according to CBS News analysis.
The 2027 adjustment would mark a significant increase from the 2.8 percent COLA that took effect in January 2026, when the Social Security Administration announced the adjustment on October 24, 2025. That earlier increase raised the average monthly benefit by about $56.
The timing of the October 14 announcement means beneficiaries will have nearly three months’ notice before the new payment levels begin in January. Social Security 2027 COLA projections have shifted throughout the year as inflation data has evolved, with estimates falling from earlier highs as price growth has cooled.
The forecast of 3.6 percent would rank as the highest COLA since 2023, when beneficiaries received an 8.7 percent increase—a record adjustment driven by elevated pandemic-era inflation. More recent years have seen more modest increases: 3.2 percent in 2024 and 2.5 percent in 2025. The Social Security 2027 COLA forecast continues to reflect how inflation trends directly shape retirement income for nearly 71 million Americans who receive benefits.
Retirees and financial planners can use the October 14 announcement to finalize retirement budgets and adjust spending plans for 2027. The official COLA figure will replace all earlier projections and estimates that have circulated throughout the year.
Sources
- USA Today — confirmed October 14, 2026 announcement date for 2027 COLA
- Cleveland.com — reported 8:30 a.m. ET announcement time and 3.6% projection
- CNBC — stated announcement date and inflation data release timing
- CBS News — provided 3.6% COLA impact on average monthly benefit ($75 increase)
- Senior Citizens League — issued 3.6% COLA projection for 2027
- AARP — forecasted 3.5% COLA and explained CPI-W calculation method
- Social Security Administration — confirmed 2.8% COLA for 2026 and COLA calculation methodology
