US Social Security payments to rise by 3.6% in 2027 — The Guardian

In the United States, recipients of Social Security benefits will see their payments increase by 3.6% in 2027 as part of a cost-of-living adjustment. On average, retirement benefits will rise by $75 per month, The Guardian reports.

When payments will begin

According to the US Social Security Administration, nearly 72 million Social Security beneficiaries will receive increased amounts starting in January 2027. About 7.3 million recipients of Supplemental Security Income (SSI) are expected to receive higher payments starting on December 31, 2026.

Social Security Administration Commissioner Frank Bisignano said the payment adjustment would affect 76 million Americans and is intended to provide them with greater financial stability.

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Inflation and older Americans’ expenses

According to the US Bureau of Labor Statistics, consumer prices rose by 3.7% year-on-year in September, following 3.4% in August. This is the highest reading since inflation reached a three-year peak of 4.2% in May. According to the cited data, gasoline prices increased by 34% compared with last year, heating oil rose by 74%, and airfares by 22.4%.

Shannon Benton, director of the Senior Citizens League public organization, told NBC that older Americans’ expenses had been rising faster than their benefits for years. According to her, the new adjustment will provide “a little room to maneuver,” but will not compensate for the losses people have suffered during this decade.

A new Pew Research survey found that 44% of Americans had difficulty paying for at least one basic necessity—health care, transportation, housing, or food—over the past year. Another 61% of respondents believe that economic inequality in the United States is excessive.