The Social Security Administration announced a 3.6 percent COLA increase for 2027, boosting average monthly checks by $75 for 72 million Americans. Here is what to expect.
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Your Social Security check is set to get bigger.
The Social Security Administration (SSA) announced on Wednesday there will be a 3.6 percent benefit increase beginning in January 2027.
The agency said nearly 72 million Social Security beneficiaries will see this cost-of-living adjustment also called a COLA. The 3.6 percent COLA increase follows a 2.8 percent increase in 2026.
The increase in 2027 Social Security payments will amount to an average of $75 a month, the SSA said.
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The SSA noted that some people receive both Social Security and Supplemental Security Income (SSI) benefits. About 7.3 million SSI beneficiaries will receive increased payments beginning Dec 31.
The SSA reported that the maximum amount of earnings subject to Social Security tax will increase in 2027 to $192,300 and the earnings limit for workers younger than retirement age will increase to $25,560. For those reaching full retirement age in 2027, the earnings limit will increase to $67,920.
Individuals with personal my Social Security accounts can view their COLA notice online starting in late November. Those not enrolled in paperless notices will receive notices by mail in December.