Social Security benefits are heading into another round of annual adjustments in 2027, and a new survey suggests many Americans may not fully understand how those changes will affect their monthly checks or paychecks. The Social Security Administration recalibrates several key financial thresholds every year to keep pace with inflation and wage growth, typically announcing the updated figures in mid-October. Here's a look at three significant changes coming in 2027, along with why a recent survey suggests they may catch some retirees and workers off guard.

1. Benefits will receive another cost-of-living adjustment

Social Security payments are designed to keep pace with inflation through an annual cost-of-living adjustment, or COLA, calculated by comparing changes in the Consumer Price Index for Urban Wage Earners and Clerical Workers, known as CPI-W, during the third quarter of the year. Despite this built-in protection, a survey from the Nationwide Retirement Institute found that 68% of adults surveyed did not know Social Security benefits are shielded from inflation in this way.

The COLA for 2026 came in at 2.8%, a figure based on third-quarter 2025 inflation data, and translated to an average benefit increase of roughly $56 per month for retirees. Inflation has trended higher in 2026, driven in part by elevated energy prices tied to the ongoing conflict involving Iran, leading forecasters to project a larger adjustment for 2027. The Senior Citizens League currently estimates a 3.8% COLA for 2027, while independent policy analyst Mary Johnson has projected a slightly lower 3.7% increase. Other........

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