Social Security payments set for 3.6% increase in 2027
The adjustment will raise retirement benefits by an average $75 a month, with payments increasing on different dates for Social Security and SSI recipients.
Key takeaways
- The 2027 cost-of-living adjustment for Social Security and SSI will be 3.6%.
- Social Security retirement benefits will rise by an average of $75 per month.
The Social Security Administration set its 2027 cost-of-living adjustment at 3.6%, raising retirement benefits by an average of $75 per month, the agency said Wednesday.
About 72 million Social Security recipients are due to see higher benefits in January. Around 7.3 million Supplemental Security Income beneficiaries are scheduled to receive increased payments starting Dec. 31.
The adjustment is based on changes in the Consumer Price Index for Urban Wage Earners and Clerical Workers. That index rose 3.9% over the 12 months through September, according to data released Wednesday.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
