Social Security payments could rise by $75 a month. The official number comes Wednesday.

Social Security and SSI recipients will get confirmation this week of how much more money they’ll have to work with next year.

On Wednesday, the Social Security Administration will announce the annual cost-of-living adjustment, revealing exactly how much Social Security and SSI payments will increase in 2027.

Social Securitybenefits rose by 2.8% earlier this year, but forecasters expect a larger increase for 2027. The increase is due to higher inflation, which has been in part driven by higher energy and oil prices.

The 2027 cost-of-living adjustment (COLA) figure, calculated using the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), is based on average prices across three months: July, August and September 2026. That average is compared with the same period in 2025 to determine how much benefits will increase.

While inflation is higher than a year ago, it has started to cool in recent months. The Senior Citizens League lowered its forecast for how much payments will go up from 3.8% in July to 3.5% in September.

While inflation is higher than a year ago, it has started to cool in recent months. The Senior Citizens League lowered its forecast for how much payments will go up from 3.8% in July to 3.5% in September. The AARP projects a slightly higher rise of 3.6%. According to AARP, the average monthly Social Security benefit for a retiree was $2,086 in July. A 3.6% COLA would increase those payments by around $75. 

Recipients don’t need to apply for the COLA. Once the final increase is announced, the SSA will automatically apply it to eligible Social Security and SSI payments. Beneficiaries will also receive a notice detailing their new payment amount before the increase takes effect.

Key dates to know

Oct. 14

September’s CPI-W,will be released by the BLS at 8.30 am ET, which is the third and final piece of data the SSA needs to calculate the COLA. The SSA is also expected to announce the official 2027 COLA that day. Last year’s announcement was delayed by the government shutdown.

November

Medicare Part B premiums are announced by the Centers for Medicare and Medicaid Services (CMS). For Social Security recipients enrolled in Medicare Part B, the premium is typically deducted directly from their monthly payment. CMS generally announces the following year’s premium in November, although the exact date can vary.

Dec. 31, 2026 – Jan. 2027

Beneficiaries begin receiving payments with the increase added. Social Security payments generally go out on the second, third or fourth Wednesday of the month, based on the beneficiary’s birthday. However, people who began receiving Social Security before May 1997, as well as those who receive both Social Security and SSI, generally receive their Social Security payment on the third of the month.

SSI payments normally arrive on the first of the month, but this year the January payment will arrive on Dec. 31, 2026, because Jan. 1 is a federal holiday.