Social Security Payments of Up to $5,181 Coming This Week
Summary
Millions of Americans will get their Social Security payments this week, with some retirees receiving up to $5,181. Officials will also announce the cost-of-living adjustment (COLA) for 2027, which is expected to raise benefits by around 3.5% to 3.6% to help keep up with inflation.Key Facts
- Social Security payments for October will start on October 14 for people born from the 1st to the 10th of any month.
- People who started benefits after April 30, 1997, get payments based on their birth dates; others usually get payments on the 3rd of each month.
- Supplemental Security Income (SSI) payments arrived on October 1; SSI helps low-income older adults and people with disabilities.
- Maximum Social Security retirement benefits for 2026 can be as high as $5,181 per month for workers with the highest earnings history.
- Average monthly Social Security benefits currently are about $2,087.
- The 2027 COLA announcement is expected soon to increase payments by about 3.5% to 3.6%, higher than recent years.
- A 3.5% increase would add about $73 per month for the average retiree.
- The COLA helps adjust payments based on inflation, measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
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