The 3.6% Social Security COLA for 2027 May Feel Smaller
Naples – October 16, 2026 -- Social Security and SSI payments for 76 million Americans will rise 3.6 percent in 2027, lifting the average retirement benefit by about $75 a month. Finance and insurance professional Bobby Garon says many retirees will see a smaller bump in their bank accounts than that headline suggests.
The 2027 COLA is the largest since 2023
The Social Security Administration announced the cost of living adjustment (COLA) on October 14. It is up from 2.8 percent in 2026 and is the largest since 2023's 8.7 percent increase.
Nearly 72 million Social Security beneficiaries will see the increase starting in January 2027. About 7.3 million SSI recipients will get theirs on December 31, 2026.