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Trumpflation Is Accelerating, Raising the Odds of the 5th-Largest Social Security COLA Over the Last 35 Years
After a quarter-century of annual surveys by Gallup, one thing is for certain: Social Security income is vital to the financial well-being of our nation's aging workforce. In just over one week, on Oct. 14, more than 71 million traditional Social Security beneficiaries, nearly 55 million of whom are retired workers, will know exactly how much their payouts will climb in 2027.
Social Security's cost-of-living adjustment (COLA) is the near-annual raise given to recipients to combat inflation (rising prices). Without these payout boosts, Social Security income would lose purchasing power over time.
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The Trump Bump for Your 2027 Social Security COLA Could Be Bigger Than Expected. Here's the Good News — and the Bad News.
As things stand, Social Security benefits will increase by around 3.5% in 2027. The Senior Citizens League (TSCL), a nonpartisan organization that advocates for seniors' issues, projects this will be the amount of next year's Social Security cost-of-living adjustment (COLA). So does independent Medicare and Social Security analyst Mary Johnson. AARP's COLA prediction is only slightly higher at 3.6%.
President Donald Trump doesn't set the COLA. However, his policies are shaping the extent of the increase. The "Trump bump" for your 2027 Social Security COLA could be bigger than expected — and there's both good news and bad news.
The Social Security Administration (SSA) calculates the annual COLA using an inflation metric called the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). In particular, the agency uses CPI-W values for the third quarters of the current and prior years.
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Social Security 2027 COLA date: When projections come out and what to expect
Millions of Social Security recipients won’t get a check next month, but NBC 5 Responds found there’s no reason to panic.
Editor's Note: The video in this story is from a previous report.
Attention retirees: The Social Security Administration is expected to announce its cost-of-living, or COLA increases for 2027 later this month.
Social Security payments are adjusted each year to account for cost of living changes and inflation. According to the SSA, the increase for the next calendar year will be announced Oct.14.
The adjustment is "based on increases in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W)," which are calculated on a monthly basis by the Bureau of Labor Statistics, according to the Social Security Administration.
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