Senior citizens group AARP last week forecast a 3.6 percent increase in Social Security payments for 2027, citing current inflation data.
If the projection holds steady, it would be the largest cost-of-living adjustment (COLA) since the 8.7 percent increase that took effect for 2023 benefits. The adjustment that went into effect for payments sent out in 2026 was 2.8 percent.
While the average monthly Social Security payment in July was around $2,086, a 3.6 percent rise next year means retirees will receive about a $75 per month increase under AARP’s Sept. 11 projection. Social Security Disability Insurance recipients would receive a $59 per month increase, and the average monthly benefit for a surviving spouse would rise by about $70 per month, according to the organization….