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Business & Finance · October 14, 2026

These unpopular solutions could rescue Social Security’s finances. Here’s who could pay the most.

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The Social Security Administration announced a 3.6% cost-of-living adjustment (COLA) for 2027, the largest increase since 2023. Beginning in January, approximately 72 million beneficiaries will see an average monthly increase of $75. The adjustment is tied to the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) and follows a year of elevated inflation, particularly in fuel and gasoline costs. Simultaneously, the maximum taxable earnings limit will rise to $192,300. Despite the increase, fiscal watchdogs and advocacy groups have raised concerns about the long-term solvency of the Social Security trust fund, which is projected to be depleted between 2032 and 2034 without congressional action.

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Reported by multiple outlets

  • Social Security benefits will increase by 3.6% in 2027.
  • The average monthly benefit increase is approximately $75.
  • The adjustment affects nearly 72 million Social Security recipients and 7.3 million SSI recipients.
  • The maximum taxable earnings limit for Social Security will rise from $184,500 to $192,300.
  • The 2027 COLA is higher than the 2026 increase of 2.8%.

Reported by only some outlets

  • Standard Medicare Part B premiums are projected to rise to $209.50 in 2027.
  • The Social Security trust fund is projected to be depleted by 2032 or 2033, leading to an estimated 22% to 24% benefit cut.
  • The federal government will add approximately $56 billion to total Social Security spending next year due to the increase.
  • One in five older Americans has no retirement savings.
  • The highest-earning couples could see their combined benefits exceed $100,000 per year with this adjustment.

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