Here's What the 2027 Social Security COLA Could Do to the Average 62-Year-Old's Benefit
Key Points
The average 62-year-old could get about $50 more per month with a 3.6% 2027 COLA.
The actual COLA could be higher or lower, depending on what inflation does over the coming month.
We'll learn the official 2027 Social Security COLA on Oct. 14, 2026.
The average 62-year-old will receive about $50 more per month from Social Security if the Senior Citizens League's latest 3.6% cost-of-living adjustment (COLA) prediction for 2027 holds. This might be less than you were hoping for, but it's actually above average compared to the last 50 years.
It's possible that the typical 62-year-old claimer could get more than this, though, if the COLA estimate increases over the next month. That depends on what inflation does.
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Higher inflation brings larger Social Security COLAs, while lower inflation leads to smaller boosts. Either way, it's a bit of a double-edged sword. More money is always great, but you'll have to pay more for the same everyday expenses, so you're not really improving your quality of life.
Still, any extra is helpful, especially if you've been struggling with rising costs throughout 2026. And you could get more than the $50 average for 62-year-olds if you're currently receiving an above-average benefit. The average 62-year-old's monthly check is roughly $1,379 in 2026.
Once we learn the official 2027 COLA on Oct. 14, 2026, you can add the COLA percentage to your existing checks to get a rough idea of how much more you'll get next year. The Social Security Administration will also send you a personalized COLA notice in December listing your exact benefit amount. If you have any questions after this, reach out to the Social Security Administration by phone or schedule an appointment at your local Social Security office for clarification.
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