Here's the projected Social Security COLA for 2027, according to AARP
Summary
The AARP estimates that Social Security benefits will increase by 3.6% in 2027 due to rising inflation. This adjustment helps Social Security recipients keep up with higher prices but has not fully covered all the increased costs they face.Key Facts
- The projected Social Security cost-of-living adjustment (COLA) for 2027 is 3.6%.
- This estimate is based on the August Consumer Price Index (CPI) data.
- The AARP previously forecasted a 3.5% increase.
- Another group, the Senior Citizens League, forecasts a 3.5% COLA for 2027.
- A 3.6% COLA would be the largest since 2023.
- Over 70 million people receive Social Security benefits.
- The average monthly Social Security benefit was $2,071 in January 2024.
- A 3.6% increase would raise the average benefit by about $75 to roughly $2,146 per month.
- The official COLA is announced in October after reviewing inflation data from July, August, and September.
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