Social Security recipients to get cost of living boost — here’s how much more you’ll receive each month
By
Associated Press
Published Oct. 14, 2026, 9:58 a.m. ET
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Press → get → results
The Social Security Administration projected Wednesday that the annual cost-of-living adjustment for older adults and people with disabilities will go up by 3.6% beginning in 2027, with some recipients complaining that is not enough to offset soaring prices.
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that → project → prices
The adjustment translates to $75 extra per month for the 73 million people who receive monthly Social Security benefits and nearly 7.5 million beneficiaries who get Supplemental Security Income.
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who → translate → Income
The announcement comes as inflation adds pressure on household budgets and businesses and as midterm elections are weeks away.
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elections → come → budgets
The cost-of-living adjustment, or COLA, for retirees and disabled beneficiaries is financed by payroll taxes collected from workers and their employers, up to a certain annual salary.
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adjustment → finance → salary
That is set to increase to $192,300 in 2027, from $184,500 in 2026.
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The agency’s commissioner, Frank Bisignano, said in a statement that the adjustment will give recipients “greater financial stability.”
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adjustment → say → stability
Older adults feel the bite of rising costs
Some older adults feel the increase is a drop in the bucket as inflation has eaten away at monthly savings.
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inflation → feel → savings
The government reported last month that inflation accelerated in August as gas prices spiked in the wake of renewed fighting between the United States and Iran.
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prices → report → States
Lorrie Ufkin, a 71-year-old retiree who lives outside Rochester, Minnesota, said the COLA will not put a dent in her healthcare costs, which are set to increase after the Trump administration concludes at year’s end a temporary Medicare Part D subsidy program that has helped offset premiums.
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that → live → premiums
Ufkin said that her premiums and drug cost are expected to rise, although the Centers for Medicare & Medicaid Services has projected a modest increase for most people.
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Centers → say → people
The COLA “doesn’t even meet what they’re going to do for changes to Medicare,” she told The Associated Press.
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she → meet → Press
She said one of the medications both she and her husband take will go from $11 per month for each prescription, to $200 per month, after Republican administration changes made to older Americans’ healthcare programs.
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she → say → programs
She said that was “catastrophic.”
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that → say → ?
Senior advocacy groups say the COLA is a strong reminder of the financial straits of many older people.
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COLA → say → people
“There’s a lot on the line financially right now for older Americans — one in five have no retirement savings, and more people feel financially insecure this year than last.
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people → ’ → savings
That makes Social Security’s cost-of-living adjustment critically important,” said AARP CEO Dr. Myechia Minter-Jordan.
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Jordan → make → living
Jaime Jakubczak, a 68-year-old resident of Buffalo, New York who retired early at 55, has recently gone back to work to make ends meet, specifically to afford rising property taxes.
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ends → retire → taxes
He said the COLA is insufficient because it is offset by high inflation and a proposed 3.9% property tax increase in his town.
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it → say → town
Jakubczak called the 3.6% cost-of-living adjustment “a pittance,” given how high food, healthcare and gasoline prices have become across the country.
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prices → call → country
“We were getting ahead a little bit with the COLA based on inflation, but the inflation is so high that it doesn’t offset what our COLA allowance is,” he said.
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he → get → what
Most older adults believe the COLA isn’t adequately keeping up with inflation, according to an AARP poll from September.
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COLA → believe → September
That poll found that about three-quarters of those 50 or older disagreed with the idea that a 3.5% COLA in 2027 would be enough to keep up with rising prices.
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COLA → find → prices
Social Security faces a looming funding shortfall
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The Social Security Administration faces a looming bankruptcy date if a funding shortfall is not addressed by Congress.
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shortfall → face → Congress
The June 2026 Social Security and Medicare trustees’ report states that Social Security’s combined trust funds — which cover old age and disability recipients — will be unable to pay full benefits beginning in 2034.
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which → state → 2034
After that, incoming revenue would cover about 83% of scheduled benefits.
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revenue → cover → benefits
While a permanent solution for shoring up the benefits program has not been passed into law, lawmakers on the Hill have called for new measures to replenish the trust funds.
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lawmakers → shore → funds
Sens. Elizabeth Warren, D-Mass., and Bernie Moreno, R-Ohio, in June proposed lifting the Social Security payroll tax cap, which is a maximum amount of earnings taxable.
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which → propose → earnings
Treating all income the same “would generate substantial revenue that would extend the solvency of Social Security for another generation,” they wrote in The New York Times.
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they → treat → Times
The move is controversial because Republicans have traditionally criticized calls to raise taxes on the wealthy.
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Republicans → criticize → wealthy
The Peterson Foundation estimates that lifting the payroll tax cap would add roughly $3 trillion into the program over the next 10 years.
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lifting → estimate → years
Both the Trump and Biden administrations signed into law new benefits for retirees, which boosted their finances, but simultaneously accelerated the insolvency of the old-age benefits program.
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The Trump administration, as part of Republicans’ tax and spending bill, gave a temporary tax deduction for people 65 and over, which applies to all income — not just Social Security.
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which → give → income
But those who aren’t able to claim the deduction include the lowest-income older adults who already don’t pay taxes on Social Security, those who choose to claim their benefits before they reach 65 and those above a defined income threshold.
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they → claim → threshold
Additionally, Democratic President Joe Biden in 2024 repealed two federal policies — the Windfall Elimination Provision and the Government Pension Offset — that previously limited Social Security payouts for roughly 2.8 million people, including largely former public workers.
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that → repeal → workers
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