Millions of Americans who receive Social Security retirement benefits could see a larger monthly payment in 2027 if current forecasts prove accurate. However, campaign groups representing older people argue that the projected increase will still fall short of meeting many retirees' everyday living costs.
Several organisations have released forecasts for next year's cost-of-living adjustment, known as COLA. Estimates range from 3.6% to 3.8%. If the highest projection proves correct, the average retired worker would receive about $73.62 more each month, increasing the average monthly benefit to $2,011.15.
