Social Security 2027 rise may exceed average, but beneficiaries sceptical

Summarised from CNBC's report · Updated 13 Oct, 20:38 · Archive

Social Security benefits may increase by 3.5 to 3.6 per cent in 2027, higher than the ten-year average, but most beneficiaries say it will not be enough.

The Social Security Administration is expected to announce the 2027 cost-of-living adjustment on Wednesday alongside new government inflation data. Experts estimate the increase will be between 3.5 and 3.6 per cent, marking the largest rise in three years and exceeding the ten-year average of 3.1 per cent.

Despite the above-average increase, beneficiaries express concern about affordability. An AARP survey of 1,023 adults aged 50 and over, conducted between 17 and 21 September, found that 76 per cent said they do not believe a 3.5 per cent increase would be enough. Donna Dalrymple, a 70-year-old retiree in New Hampshire, said she worries that rising costs for Medicare may outpace the annual Social Security benefit increase.

Both the Senior Citizens League and independent analyst Mary Johnson forecast a 3.5 per cent COLA for 2027, while AARP forecasts 3.6 per cent.

Read the report

• Social Security cost-of-living adjustment for 2027 may be above average. Some say it's not enoughThe Social Security Administration is expected to announce the cost-of-living adjustment for 2027. Projections point to a higher-than-average increase.CNBC · 13 Oct, 18:34

In this story: Social Security Administration · AARP · Donna Dalrymple · Mary Johnson · Senior Citizens League · Manchester, New Hampshire

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