The 2027 Social Security cost-of-living adjustment will be announced in October. According to an article by Yahoo! Finance, early projections are that it could be 3.8 percent. That’s a full percentage point higher than this year’s COLA.
While an above-average benefit boost sounds promising, the article notes that beneficiaries are likely to be disappointed once again. That’s largely due to inflation, especially the high gas prices we’ve been experiencing this summer because of the war in Iran.
The predicted 3.8 percent COLA would give the typical retiree about $79 more each month. That is certainly not enough to offset the rising expenses they’ve faced in the first half of 2026.
A bigger problem is that annual COLAs have failed to keep pace with the real-world expenses older Americans face, from healthcare and housing to groceries and utilities — that includes what they pay at the pump.
Council of Seniors is Here to Help Older Americans
All of us here at the Council of Seniors want to improve retirees’ financial futures and ensure they receive their full Social Security benefits. We are working with members of Congress to introduce the “Social Security Restitution Act.” It would provide an estimated $970 one-time payment to every retired worker receiving Social Security benefits, to help offset years of inadequate cost-of-living adjustments.
According to the Council of Seniors’ Executive Director Barbara Godwin, “For years, seniors have watched their Social Security checks fail to stretch as far as they should, while the cost of everyday essentials keeps climbing. This legislation is a straightforward, targeted way to help make up for COLAs that didn’t reflect what retired Americans were actually paying to get by.”
Please take a moment and sign our petition today to show your support.