(NEXSTAR) – Social Security beneficiaries could see a substantial bump in their checks in 2027, according to an early projection from The Senior Citizens League (TSCL).

The TSCL model predicts that the Cost of Living Adjustment (COLA) will be 3.9 percent next year, up from an earlier, “meager” projection that it would remain at 2.8 percent.

The annual COLA updates are meant to protect the purchasing power of Social Security beneficiaries when it comes to staple necessities such as food, housing and medicine. Increases vary and are meant to track inflation data.


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“For retirees living on fixed incomes, the costs that matter most, especially healthcare, housing, utilities, and insurance, continue to rise faster than prices in the rest of the economy, silently wrenching seniors dry,” Executive Director Shannon Benton said in a statement. “This makes the national affordability conversation even more important than ever.”

The average monthly check would go up just over $81, not enough to cover rising costs, according to the TSCL.

“Many seniors are telling us the same thing: As inflation picks back up, life still does not feel affordable,” Benton added. “The average senior already lives on much less than younger Americans, according to the Census Bureau, and our supporters constantly tell us they feel like they’re falling farther and farther behind.”

Amid the ongoing war in Iran, the annual inflation rate jumped higher than expected in April, rising 3.7 percent. As the conflict continues to squeeze the global oil supply, the cost of gas and other staples is going up.

“There is a real financial squeeze underway. For the first time in three years, inflation is eating up all wage gains,” Heather Long, chief economist at Navy Federal Credit Union, told The Hill. “This is a setback for middle-class and lower-income households and they know it. They are having to cut back on spending and stretch every dollar.”

Over 75 million Americans received Social Security and Supplemental Security Income (SSI) benefits in 2026.

The Associated Press contributed to this report.

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