Social Security Changes in 2027: What Retirees Need to Know
Every year, Social Security adjusts several key figures based on wage growth and inflation. Here are the most important changes expected for 2027.
COLA Increase
The 2027 COLA is projected to be 2.8%–3.2%, based on current CPI-W trends. For the average retired worker receiving $2,024.77/month, this translates to a monthly increase of approximately $57–$65.
Effective Date: January 2027
Official COLA will be announced by SSA in mid-October 2026.
Medicare Part B Premium Changes
The 2026 Medicare Part B standard premium is $202.9/month. For 2027, CMS is projected to announce a premium of approximately $213.05/month, a 5.0% increase.
This premium increase will offset part of your COLA. For many retirees, the net benefit increase after Medicare is smaller than the headline COLA percentage suggests.
Taxable Maximum & Earnings Limits
Based on projected wage growth, 2027 changes are expected to include:
- •Taxable maximum: Expected to rise from $176,100 (2026) to approximately $184,000 (2027 projection).
- •Earnings limit (under FRA): Workers claiming benefits before full retirement age will have an updated earnings threshold before benefits are withheld.
- •Quarter of coverage: The amount needed to earn one Social Security credit will also be adjusted.
Final numbers will be announced by SSA alongside the 2027 COLA in October 2026.
At a Glance: 2026 vs 2027 (Projected)
| Item | 2026 Actual | 2027 Projected |
|---|---|---|
| COLA | 2.8% | 2.8%–3.2% |
| Average Benefit | $2,024.77 | ~$2090 |
| Medicare Part B | $202.9 | ~$213.05 |
| Taxable Maximum | $176,100 | ~$184,000 |
See Your 2027 Benefit Increase
Calculate your personal COLA impact with our free calculator.
Calculate Now →