Social Security benefits and Supplemental Security Income (SSI) payments for 76 million Americans will increase 3.6% in 2027.

On average, Social Security retirement benefits will increase by about $75 per month starting in January.

Nearly 72 million Social Security beneficiaries will see a 3.6% cost-of-living adjustment (COLA) beginning in January 2027. Increased payments to about 7.3 million people receiving SSI will begin on Dec. 31.

Several other adjustments that take effect in January of each year are based on increases in average wages. For example, the maximum amount of earnings subject to the Social Security tax, known as taxable maximum, is slated to increase to $192,300 from $184,500 in 2027.

Those who would like to view their COLA notice can do so in a number of ways.

People with personal my Social Security accounts (ssa.gov/myaccount/) can view their COLA notices online starting in late November. Accessing the notice online is secure, convenient, and often faster than waiting for a mailed notice. Account holders can also choose to receive text or email alerts when a new message, including their COLA notice, is available in their personal my Social Security account Message Center.

Those who do not have a personal account will need to create one by Nov. 18 to see their COLA notice online. Social Security will mail notices with updated benefit amounts to recipients not enrolled in paperless notices during the month of December.

Medicare information

Information about Medicare changes for 2027 will be available on the Medicare website.

For Social Security beneficiaries enrolled in Medicare, the 2027 benefit amount will be available in their personal my Social Security’s Message Center starting in late November. Those who do not have an online my Social Security account will receive their COLA notice by mail in December.

Calculating the COLA

The Social Security Act establishes how the annual COLA is calculated. The adjustment is based on changes in the Consumer Price Index for Urban Wage Earners and Clerical Workers as determined by the Department of Labor’s Bureau of Labor Statistics.

More information about the 2027 COLA is available online at ssa.gov/news/en/cola.