US retirees and disabled workers are being told they could receive one of the biggest Social Security 'raises' in years, with early forecasts for the 2027 cost‑of‑living adjustment (COLA) climbing as high as 4.7 per cent. For someone on an average benefit, that could mean roughly $95 (£70) more each month. Analysts, including Mary Johnson and other Social Security specialists, emphasise that these figures are still only estimates and may not go far once higher bills are factored in.
The projections matter because Social Security is the main source of income for around 59 million Americans aged 65 or older who receive benefits, many of whom are already reshaping their budgets around hopes of a larger cheque in January 2027. Social Security specialists say those plans could be upended if the final COLA lands lower than current forecasts or if rising prices for food, housing and healthcare eat away at most of the increase.
