Social Security beneficiaries could see a noticeably larger cost-of-living adjustment in 2027. Current estimates point to a COLA of around 4.7%, although the final number will not be known until the Social Security Administration completes its calculation later this year.
A bigger check may sound like straightforward good news. It is not quite that simple. The reason behind a higher COLA is rising consumer prices. Social Security payments are adjusted to help beneficiaries keep pace with inflation, so a larger increase can also be a sign that everyday costs have been climbing faster than many households would like.
