Social Security Administration says cost-of-living adjustment will rise 3.6% in 2027
Social Security benefits will increase 3.6% beginning in January for more than 70 million recipients, the Social Security Administration (SSA) said on Wednesday.
The cost-of-living adjustment for 2027, known as COLA, came in markedly higher than the prior year's hike of 2.8%.
The annual uptick in Social Security benefits aims to keep payments on pace with inflation, which surged in the spring after the outbreak of the Iran war.
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