Social Security recipients to get 3.6% cost of living boost, an average of $75 per month

The Social Security Administration announced a 3.6% cost-of-living adjustment (COLA) for 2027, based on Bureau of Labor Statistics inflation data. Approximately 71 million Americans, including 54 million retired workers and 9 million survivors or dependents, will receive this increase. Typical retired workers will see an average monthly boost of $75, totaling $902 annually. Commissioner Frank Bisignano stated that this adjustment aims to provide recipients with greater financial stability starting in January.