Elevated inflation is making everyone a bit anxious, but it’s often worse for seniors who rely primarily on Social Security benefits. While their checks saw a 2.8% boost at the start of the year, the cost of goods has climbed even faster, leaving many looking toward their 2027 cost-of-living adjustment (COLA) for some relief.
We’re still nearly six months from the next benefit increase, but the COLA announcement is happening much sooner. We already have a rough idea of where things could end up.
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An above-average COLA looks likely
Social Security COLAs are based on changes in average third-quarter inflation data from one year to the next. We haven’t even started Q3 2026 yet, so we have a while before we learn what the official 2027 COLA will be.
The Senior Citizens League (TSCL), a nonpartisan senior group, is known for putting together pretty accurate COLA predictions. Its latest estimate is 3.8%, down from 3.9% a month earlier. This would add roughly $79 to the $2,081 average monthly benefit as of April 2026.
It may not seem like much, but it would actually be an above-average COLA compared to the last 50 years. That said, it’s unlikely to be life-changing, even if it comes in higher than current estimates predict.
High COLAs occur amid high inflation, like what we’re seeing now. The extra money you get is supposed to help your checks maintain your buying power, and for many, it doesn’t even do this very well. You may have to rely more upon personal savings or income from a job next year to cover what your Social Security checks won’t.
What to do once the 2027 Social Security COLA is announced
The Social Security Administration will officially announce the 2027 COLA on Oct. 14, 2026. This is the date we get the last bit of information we need to do the calculation.
The COLA is a percentage, so to figure out how much more you’ll get next year, you’ll need to add that percentage to your existing checks. The Social Security Administration will also send you a personalized COLA notice in December, giving your exact benefit amount for next year.
Once you’ve got this information, start comparing it to your monthly expenses. Figure out how much you’ll need to cover with other retirement income sources, and then decide on a plan to make this happen. If you have any questions about your Social Security benefits, contact the Social Security Administration for answers.
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