You can have the Newsbeat regularly delivered to your mailbox so you never miss any news. This is a free service -- you can unsubscribe any time. Enter your email address and click the submit button; then confirm your subscription from your email.

Social Security announces 3.6% benefit increase for 2027

by

Social Security retirement benefits will rise an average of $75 a month in 2027 under a 3.6% cost-of-living adjustment announced Oct. 14.

Nearly 72 million Social Security beneficiaries will receive the increase beginning in January, according to the Social Security Administration.

Higher Supplemental Security Income payments for about 7.3 million recipients begin Dec. 31. Some people receive both benefits.

The agency estimates the average retired worker’s monthly benefit will rise from $2,095 to $2,170. Individual increases depend on benefit amounts and deductions.

The annual adjustment follows a formula established by federal law, using changes in the Consumer Price Index for Urban Wage Earners and Clerical Workers.

Personalized notices become available online in late November. People who want electronic access should establish a my Social Security account and enroll in paperless notices by Nov. 18.

People who do not choose paperless delivery will receive notices by mail in December. The notices identify payment dates, benefit amounts, and deductions.

For beneficiaries enrolled in Medicare, the agency says 2027 premium information will also become available through their account’s Message Center in late November.

Sources:

>