Summary
The Senior Citizens League estimates that the Social Security cost-of-living adjustment (COLA) for 2027 will be 2.8%, the same as in 2026. This expected increase may not help seniors keep up with rising costs for housing, healthcare, and other daily expenses.
Key Facts
- The estimated 2027 COLA for Social Security is 2.8%.
- This COLA estimate is based on the Consumer Price Index (CPI), a measure of inflation.
- Senior households typically have about 58% of the income of working-age households.
- Rising costs in areas like housing and healthcare greatly impact seniors.
- If COLA does not increase, seniors' purchasing power could decrease.
- Over 40% of retirees rely solely on Social Security for income.
- Inflation rates might be higher than the COLA adjustment.
- The official 2027 COLA will be announced in October.
