Social Security's 2027 cost‑of‑living adjustment could be one of the largest in decades, but the same inflation that might lift payments is also making the programme's finances look more fragile.
By June 2026, independent forecasts were putting the 2027 COLA between 3.8% and 4.7%, while the Social Security trustees warned that the retirement trust fund is now expected to run dry sooner, pushing it closer to across‑the‑board cuts of up to 22% by the fourth quarter of 2032.
