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Social Security recipients will see rise in monthly payments next year

Social Security recipients will see the largest rise in their monthly payments in four years in January, with a 3.6% cost-of-living adjustment.

The Social Security Administration announced the 2027 COLA adjustment for 76 million recipients of retirement and disability benefits, which by law is calculated based on the Consumer Price Index for the July-through-September quarter.

That will increase the average retiree's benefits by $900 a year, or $75 a month.

The agency also said that the cutoff for Social Security taxes will rise to $192,300 in 2027, from $184,500 this year.

Income above that threshold is not subject to payroll tax.
How it works: The adjustment is, by statute, determined by the year-over-year change in CPI for the third quarter.

How it works: The adjustment is, by statute, determined by the year-over-year change in CPI for the third quarter. Thus, the September data released this morning was the final input needed to calculate the adjustment.

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