The Social Security Administration announced a 3.6% cost-of-living adjustment (COLA) for 2027, increasing monthly payments for millions of Americans amid persistent inflation.
According to the agency, retirement benefits will rise by an average of $75 per month. Approximately 72 million Social Security recipients will receive higher payments in January, while around 7.3 million Supplemental Security Income beneficiaries will see increases beginning December 31.
However, concerns remain over whether the increase will adequately cover living expenses. A recent AARP survey found that 76% of respondents considered a 3.5% adjustment insufficient. AARP also reported that roughly 40% of Social Security beneficiaries aged 65 and older depend on the program for at least half their income.
Related Tweet:
More than 75 million Americans will get a 3.6% boost to their monthly Social Security benefits next year, due to a cost-of-living adjustment announced Wednesday by the Social Security Administration. https://t.co/1WTQaba8XT
— CBS News (@CBSNews) October 14, 2026
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