{"id":573849,"date":"2026-08-03T21:00:09","date_gmt":"2026-08-03T21:00:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/573849\/"},"modified":"2026-08-03T21:00:09","modified_gmt":"2026-08-03T21:00:09","slug":"social-security-recipients-could-see-a-major-cola-boost-in-2027","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/573849\/","title":{"rendered":"Social Security recipients could see a major COLA boost in 2027"},"content":{"rendered":"

A new report has revealed that next year\u2019s Social Security<\/a> payments will rise<\/a> substantially from 2026 figures.<\/p>\n

Social Security benefits<\/a> are predicted to bump up to 3.8 percent<\/a> in 2027, according to advocacy group The Senior Citizens League. That\u2019s nearly a 36 percent increase over 2026\u2019s 2.8 percent adjustment.<\/p>\n

The 2027 average monthly payment to recipients<\/a> would be $2,012 and up more than $70 a month compared to June 2026\u2019s average $1,938 benefit<\/a>.<\/p>\n

The \u201ccost-of-living adjustment\u201d is made by the Social Security Administration and happens yearly to keep up with inflation<\/a>. <\/p>\n

If 2027\u2019s adjustment remains at 3.8 percent, it will mark the fourth-highest jump in the past 11 years, The Senior Citizens League said. <\/p>\n

\"TheThe \u201ccost-of-living adjustment\u201d is made by the Social Security Administration and happens yearly to keep up with inflation. Experts believe benefit recipients could receive the fourth-largest cost-of-living adjustment in the past 11 years (Getty Images)<\/p>\n

While the projected increase would have covered the inflation rate from January to March 2026, it would not keep pace with May\u2019s 4.2 percent increase.<\/p>\n

Economists believe inflation will go even higher before the summer ends. After accurately predicting rates would go above 4 percent in May, Heather Long, chief economist at Navy Federal Credit Union, told<\/a> PBS News in May that the numbers could go even higher if the Iran war continues.<\/p>\n

If inflation continues to climb, 2027 cost-of-living adjustment projections could rise, too. However, it may not be enough to ease to the financial stress many retirees are feeling as they grapple with an uncertain future. <\/p>\n

Experts believe that a critical funding source for Social Security will run out by 2032. If that happens, payments could drop by as much as 30 percent. In today\u2019s terms, that means the average monthly Social Security payment would fall from $2,071 to $1,449.<\/p>\n

The potential of lower Social Security payments adds further stress to a pervasive retirement savings crisis. The average retiree believes they need $823,800 to enjoy a comfortable retirement but have just $288,700 saved, according to a January survey<\/a> from Clever Real Estate. <\/p>\n

A turnaround in retiree financial stability is possible but significant changes to the economy and seniors\u2019 finances would have to occur, the National Council on Aging wrote in a 2025 report<\/a>.<\/p>\n

\u201cFinancial patterns over the next several years would need to improve dramatically in order for most older Americans to maintain economic security in the face of rising living costs and increasing risks of financial shocks,\u201d the council wrote.<\/p>\n

This article is sponsored by Credit Karma. We may earn a commission if you engage with their services using links in this article.<\/p>\n","protected":false},"excerpt":{"rendered":"A new report has revealed that next year\u2019s Social Security payments will rise substantially from 2026 figures. Social…\n","protected":false},"author":2,"featured_media":573850,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[114,268,85,46,266,267],"class_list":["post-573849","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-finance","tag-il","tag-israel","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/573849","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=573849"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/573849\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/573850"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=573849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=573849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=573849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}