How much is the 2027 Social Security COLA going to be? Announcement date set

NewsThis year, the Social Security Administration is expected to announce the 2027 COLA on Oct. 14, at 8:30 a.m. ET.Getty Images/Tetra images RFSocial Security recipients are on track to receive an increase their biggest increase in four years, even as inflation will likely continue to erode much of those gains.The Senior Citizens League estimates the 2027 Cost of Living Adjustment will be 3.6%, which is 0.8 percentage points higher than this year’s 2.8%. If the COLA were announced today, the average monthly benefit would rise by $69.75, from $1,937 to $2,007.READ MORE: Are you in the 1%? What’s the maximum amount of Social Security benefits you can get in a month?The COLA is announced in October each year after the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W, for July, August, and September is determined. This year, the Social Security Administration is expected to announce the 2027 COLA on Oct. 14, at 8:30 a.m. ET.The July CPI-W was 3.4%. READ MORE: This group of Social Security recipients face losing $16,900 a year in benefitsThe COLA was 2.8% in 2026, 2.5% in 2025, and 3.2% in 2024. It was 8.7% in 2023, as post-COVID inflation reached its peak.While beneficiaries can expect a higher-than-usual increase, continued inflation – and higher Medicare premiums – will eat away at most of that increase. From 2010 to 2019, the COLA (and inflation, as measured by the CPI-W) averaged approximately 1.4 percent. From 2020 to 2025, it averaged 3.7 percent.Leada Gore is a Senior Managing Producer for the Advance Local trending team, covering finance, government and consumer issues. She worked as a Managing Producer for AL.com, starting at the site in 2013 as the...