Social Security Benefits Rise 3.6% In 2027, The Largest COLA Since 2023

The Social Security Administration announced a 3.6% cost-of-living adjustment (COLA) for 2027 on October 14. The increase follows September consumer price index data, which the Bureau of Labor Statistics released the same morning.

Nearly 72 million Social Security beneficiaries get the raise starting in January 2027. About 7.3 million SSI recipients see higher payments on December 31, 2026.

The 2027 raise is the largest since 2023, and it runs 0.8 percentage points above the 2.8% COLA for 2026. The Committee for a Responsible Federal Budget (CRFB) notes it also beats the Social Security Trustees’ recent projection by 0.9 points, a sign of how fast inflation ran this year.