Social Security COLA set to rise by 3.6 percent in 2027
Summary
Social Security benefits will go up by 3.6 percent in 2027, as announced by President Donald Trump’s administration. This change means that the average monthly Social Security payment will increase by $75.Key Facts
- The Social Security cost of living adjustment (COLA) for 2027 is 3.6 percent.
- This increase will add about $75 per month on average to benefits.
- The Social Security Administration (SSA) reported this change.
- Last year, the COLA was 2.8 percent.
- Nearly 72 million people receive Social Security benefits.
- COLA adjusts payments to keep up with inflation or price increases.
- The announcement came from the Trump administration.
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