Why a Bigger 2027 Social Security COLA Might Still Feel Like a Pay Cut for Millions of Retirees

Key Points Current estimates say 2027's Social Security COLA will be larger than this year's 2.8% increase. In spite of that, seniors could lose out financially. A big increase in the cost of Medicare could erode the upcoming COLA, and a flaw in its formula could render it pretty useless. The $23,760 Social Security bonus most retirees completely overlook › If you weren't happy with the 2.8% cost-of-living adjustment (COLA) Social Security benefits received earlier this year, here's a smidge of good news. The 2027 COLA is shaping up to be much larger. While it's too soon to have an exact number, current estimates put the upcoming COLA in the 3.5% to 3.6% range.