Social Security’s 2027 COLA could be largest since 2023: Will it help retirees?

Yes—if the current estimate holds, Social Security’s 2027 COLA could be the biggest increase since 2023, but whether it will meaningfully help retirees depends on how fast their expenses rise.

• Current estimate: about 3.5%–3.6% for 2027. AARP currently projects 3.5%, while the Senior Citizens League estimate cited in recent reports is 3.6%. (AARP)

• Why it matters: A 3.6% increase would add roughly $70 per month to an average retirement benefit, although the exact amount varies by recipient. (Investopedia)

• When it becomes official: The Social Security Administration calculates the COLA using third-quarter inflation data and is expected to announce the 2027 figure in October 2026. (AARP)

• Will retirees feel better off? Not necessarily. Housing, food, utilities, healthcare and Medicare-related costs can rise quickly, so a larger Social Security check doesn't automatically mean greater purchasing power

• For comparison: The official 2026 COLA is 2.8%. (Social Security Administration)

Bottom line: A 3.5%–3.6% COLA would provide welcome relief, especially for retirees who depend heavily on Social Security, but it may only partially offset their rising living costs. The final number could still change before the October announcement. (AARP)