Social Security benefit changes in 2027: Update on what to expect for next year’s checks, COLA, and more

Social Security is making some changes in 2027. Although those changes won’t be officially released until October 14, many people are already wondering what the cost-of-living adjustment (COLA) benefits will be for the coming year, and if the full retirement age—which determines the amount of monthly Social Security checks—will remain the same. Here’s what to know. Cost-of-living adjustment (COLA) benefit increase in 2027 AARP projects a 3.5% Social Security cost-of-living adjustment for 2027, based on current inflation trends, which the organization estimates would add up to an extra $73 a month, on average, for retirees. (The official 2027 increase is expected on October 14, after the release of the Consumer Price Index report.) Social Security and Supplemental Security Income benefits for 75 million Americans increased by 2.8% in 2026, and 2.5% in 2025, per the Social Security Administration (SSA). Over the past decade, the cost-of-living adjustment has averaged 3.1%. Will the ‘full retirement age’ increase in 2027? Older Americans and retirees can start receiving Social Security retirement benefits as early as age 62; however, they are entitled to full benefits only when they …