The short answer: Social Security benefits will go up 3.6% in 2027. Social Security announced the raise on October 14, 2026. It affects about 76 million people who get Social Security or Supplemental Security Income (SSI). Most people do not need to do anything to get it. The raise is added to your payment for you. (Source: Social Security Administration, October 14, 2026.)
What Is a COLA?
COLA stands for cost-of-living adjustment. It is a yearly raise in Social Security and SSI payments. It is meant to help your benefit keep up with rising prices.
The size of the raise is set by a federal price measure called the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). For 2027, Social Security compared prices in July through September 2026 with the same months in 2025. Prices rose 3.6%, so benefits rise 3.6%.
When Will I See the Raise?
- Social Security: The raise starts with your January 2027 payment. That is about 72 million people.
- SSI: Supplemental Security Income is a monthly payment for people with very limited income and savings who are 65 or older, blind, or disabled. The higher SSI payment arrives on December 31, 2026. That is about 7.3 million people.
(Source: Social Security Administration.)
How Much More Will I Get?
Social Security says the average retirement benefit will go up by about $75 a month in January. Your own raise depends on your benefit. To figure it out, multiply your current monthly benefit by 0.036.
Example: If your benefit is $1,500 a month, 3.6% of that is $54. Your new benefit would be about $1,554 a month, before any Medicare premium is taken out.
Here are Social Security's own estimates of average monthly benefits in January 2027:
- All retired workers: $2,095 before the raise, $2,170 after
- Retired couple, both getting benefits: $3,238 before, $3,355 after
- Widow or widower living alone: $1,936 before, $2,005 after
- All disabled workers: $1,642 before, $1,701 after
(Source: SSA 2027 COLA Fact Sheet.)
Other 2027 Numbers From Social Security
All of these come from the SSA 2027 COLA Fact Sheet.
- SSI monthly payment (federal amount): $1,029 for one person, up from $994. $1,544 for a couple, up from $1,491.
- SSI savings limit: Stays at $2,000 for one person and $3,000 for a couple.
- Largest benefit for someone retiring at full retirement age: $4,188 a month, up from $4,152.
- Taxable maximum: This is the most income that Social Security tax is taken from each year. It rises to $192,300, up from $184,500. This mostly matters to people who still work.
Still working and getting benefits? Check the earnings limit
If you get Social Security before your full retirement age and still work, Social Security may hold back some of your benefit if you earn over a set amount. This is called the earnings test. For 2027:
- Under full retirement age all year: The limit is $25,560 a year ($2,130 a month). Social Security holds back $1 for every $2 you earn over it.
- The year you reach full retirement age: The limit is $67,920 a year ($5,660 a month), counting only the months before your birthday month. Social Security holds back $1 for every $3 over it.
- Once you reach full retirement age: There is no limit.
Why Your Deposit May Grow Less Than 3.6%
Most people with Medicare Part B have the premium taken straight out of their Social Security payment. Part B is the part of Medicare that covers doctor visits and outpatient care. If the premium goes up in 2027, it will use up part of your raise.
The 2027 Part B premium has not been announced yet. In 2026, the standard Part B premium is $202.90 a month. (Source: Centers for Medicare & Medicaid Services (CMS).) Watch your COLA notice. It will show your new benefit, your Medicare deduction and the amount you will actually receive.
Medicare Open Enrollment runs October 15 to December 7, 2026. It is a good time to see if a different plan would lower your costs. Read what is changing in Medicare for 2027.
What to Do Now: 5 Simple Steps
- Create or log in to your free my Social Security account at ssa.gov/myaccount. To see your COLA notice online, you need an account by November 18, 2026.
- Look for your COLA notice. Online notices start showing up in late November. If you do not get notices online, Social Security will mail yours in December. Keep it with your important papers.
- Check the numbers. Find your new benefit, your Medicare deduction and your new deposit amount on the notice.
- Watch your payment. SSI goes up on December 31, 2026. Social Security goes up with your January 2027 payment.
- Update your budget. Plan with the amount that lands in your bank account, not the 3.6% headline.
Adult children can help a parent set up an online account or read the notice together. If your budget is tight, see our guide to financial planning for Florida seniors.
A Note for Florida Residents
Florida has no state income tax, so the state does not tax your Social Security. Some people do owe federal income tax on part of their benefits. A tax professional or a trusted financial planner can tell you if a higher benefit changes your situation.
If the Raise Is Not Enough
A 3.6% raise helps, but many Florida seniors still struggle with rent, food and medical bills. Help is available. Programs can lower Medicare costs, food costs and utility bills for people with limited income. Our article on senior poverty in Florida lists programs that can help. Florida SHINE can check whether you qualify for help paying Medicare costs. Read how to get free Medicare help from SHINE.
Watch Out for COLA Scams
Social Security will never call to ask you to "confirm" or "activate" your raise. You do not have to pay anything to get it. Never give your Social Security number, bank details or a gift card number to someone who contacts you. If you are unsure, hang up and call Social Security yourself at the number below.
Where to Get Free Help
- Social Security: 1-800-772-1213 (TTY 1-800-325-0778), or online at ssa.gov/myaccount
- Florida SHINE (Serving Health Insurance Needs of Elders): 1-800-96-ELDER (1-800-963-5337). Free, unbiased Medicare counseling.
- Florida Senior Legal Helpline: 1-888-895-7873. Free legal advice by phone. Read more about free legal help for Florida seniors.
Disclaimer: This article is for informational purposes only and does not constitute medical, financial, or legal advice. Readers should consult a qualified healthcare provider for medical concerns, a financial advisor for financial planning, and an attorney for legal matters. The resources and programs mentioned are subject to eligibility requirements and availability, which may vary. While we strive for accuracy, the information provided may not reflect the most recent updates. Always verify details with official sources or professionals before making decisions based on this content.