Social Security October update : Social Security’s annual October update is almost here, and the cost-of-living adjustment (COLA) is not the only number worth watching.
The Social Security Administration is set to release its list of 2027 program updates on October 14, 2026. The announcement will give workers and seniors a clearer idea of how Social Security benefits and taxes will change next year.
Here are four major changes expected in the announcement.
2027 Social Security COLA Will Be Announced
The COLA will likely be the most closely watched part of the October announcement because it determines how much Social Security checks will increase beginning with the January 2027 payment.
The Senior Citizens League currently estimates that the 2027 COLA will be around 3.5%. However, that is only a projection, and the actual COLA could be slightly higher or lower.
The official figure is expected to be announced on October 14.
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Social Security’s Maximum Taxable Earnings Will Increase
The maximum taxable earnings limit is another number set to change in 2027.
In 2026, the maximum amount of earnings subject to Social Security taxes is $184,500. Most people earn below that amount, so they pay Social Security payroll taxes on all of their income.
The limit will increase next year, with the change affecting higher earners.
As The Motley Fool reported, traditionally employed workers pay 6.2% in Social Security taxes, while self-employed workers pay 12.4%, up to the applicable taxable earnings limit.
