The Social Security Administration (SSA) revealed last month the annual cost-of-living adjustment (COLA) for 2027, which will give a boost to beneficiaries' monthly checks amid stubborn inflation.
The COLA will boost benefit checks by 3.6% in 2027, starting with payments distributed for January. That increase will amount to an average benefit boost of $75 per month for typical beneficiaries.
Each year, the COLA is computed to account for inflation that occurred in the third quarter of the preceding year, and this year's inflation data from the months of July, August and September led to the 3.6% increase.
Bill Sweeney, senior vice president of…
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