Social Security benefits poised for biggest increase in four years with 2027 COLA

The Social Security Administration is scheduled to release the 2027 cost-of-living adjustment on Oct. 14, using the September Consumer Price Index as its benchmark. Approximately 70 million beneficiaries of Social Security and Supplemental Security Income will see their monthly checks rise, with The Senior Citizens League projecting a 3.5% increase—the strongest adjustment in four years. This percentage would raise the average benefit by $67.90, from $1,940.08 to $2,007.98.

AARP has also issued an advance forecast, aiming to give households extra time to adjust to persistent price pressures. A recent Nationwide Retirement Institute poll indicates that 74% of recipients have already altered their finances, with many cutting discretionary and essential purchases. The payment calendar for late 2026 will feature schedule tweaks, resulting in two October disbursements and none in November, as well as an early January 2027 payment due to the New Year’s holiday.