Summary
A group called the Senior Citizens League (TSCL) estimated that Social Security's cost-of-living adjustment (COLA) for 2027 will be 2.8 percent. This small increase may not cover the rising living costs for many older people. TSCL says many seniors have already had to skip important health services to save money this year.
Key Facts
- Social Security's COLA is a yearly adjustment to help benefits keep up with inflation.
- TSCL predicts a 2.8 percent COLA increase for 2027.
- This is a slight increase from the previous estimate of 2.5 percent.
- Many seniors skipped health services, like dental and vision care, to save money.
- TSCL's estimates consider inflation measures, interest rates, and jobless rates.
- The 2.8 percent increase is lower than the 8.7 percent increase in 2022, after high inflation post-COVID-19.
- The next COLA projection from TSCL is due in March.
