Social Security announced October 14 that benefits will receive a 3.6% cost-of-living adjustment for 2027. Nearly 72 million Social Security beneficiaries will see the increase beginning in January, while increased Supplemental Security Income payments begin December 31, 2026. SSA estimates the average retirement benefit will rise by about $75 a month; an individual’s amount will depend on their own benefit and deductions. The adjustment follows the statutory calculation using third-quarter CPI-W inflation, rather than a separate estimate of every household’s expenses. SSA’s fact sheet also raises the annual earnings subject to Social Security tax from $184,500 to $192,300. Those are two different adjustments: one changes benefits, while the other changes the taxable earnings ceiling.