The Social Security Administration is expected to announce the 2027 cost-of-living adjustment on Oct. 14, when September inflation data are due, along with new program figures. The earnings-test limit, wage cap and work-credit threshold are expected to rise.
The figures are expected to include the maximum monthly benefit, the earnings-test limit for people collecting benefits while working before full retirement age, the taxable wage cap and the earnings needed for one work credit. The maximum benefit is expected to rise with the COLA; the other figures are expected to increase with wage growth. Forty work credits are required to qualify for retirement benefits.
People enrolled in both Social Security and Medicare pay their Part B premiums from monthly benefits, so a higher premium can reduce the net COLA increase. Medicare may not announce the new Part B cost for several weeks after the SSA update, leaving beneficiaries unable to calculate their total increase until then.
