The Social Security Administration (SSA) is set to announce the 2027 cost-of-living adjustment (COLA) later this month, with outlets pointing to Oct. 14 as the announcement date. The COLA is calculated using changes in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) over a specified period, reflecting how prices move for beneficiaries.

Multiple reports say the 2027 COLA is projected to be about 3.5%, compared with 2.8% for 2026, which would represent one of the largest increases in recent years. Other outlets add a caveat that higher Social Security payouts can be offset for many recipients by Medicare-related costs, which tend to rise alongside or ahead of broader inflation.

Some coverage also focuses on longer-term program impacts, noting that a higher COLA could affect how quickly the Social Security trust funds—particularly the OASI fund—are used. Overall, the sources agree on the expected timing and the rough size of the projected increase, while differing in emphasis between beneficiary purchasing power, Medicare premiums, and trust-fund outlook.