Social Security COLA 2027 Reaches Highest Since 2023
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The Social Security Administration announced a three‑point‑six percent cost‑of‑living adjustment for 2027, the largest increase since 2023. This rise will lift monthly benefits by about seventy‑five dollars for more than seventy‑two million recipients, according to the agency.
The adjustment is based on the average year‑over‑year change in the Consumer Price Index for Urban Wage Earners and Clerical Workers during July, August, and September. While the increase offers greater financial stability, critics argue it still falls short of covering rising healthcare and housing costs that retirees face.
Medicare Part B premiums will also rise, with the 2027 standard premium projected at two‑hundred‑nine dollars and fifty cents, up from two‑hundred‑two dollars and ninety cents. The COLA will take effect on January first, 2027, with most Social Security recipients receiving the higher amount that month. SSI beneficiaries will see the first
Timeline
- 1935 — Social Security Act passed, establishing federal benefits program
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