There’s a lot to think about as the new year approaches, including the 2027 COLA estimate update.
The weather’s changing. The world’s changing. But if there’s one thing that’s as true as ever, it’s that seniors rely on their Social Security benefits to navigate a challenging economy. And even those who are well-off financially deserve their benefits paid in full.
While everyone has their own opinion about how reliable Social Security is, or how the program is being managed, the following three facts are crucial to remember concerning the upcoming COLA.
1. COLAs Are Money Owed, Not Gifts from Government
Many people feel blessed that 2026’s COLA was higher than the year before. Don’t get us wrong – we here at NORA know that gratitude is a healthy virtue for anyone to show. But it’s crucial to remember the COLA is not a gift. We aren’t being favored by generous policymakers. Social Security represents money we’ve paid in, and money that’s owed back to us. The 2027 COLA should be higher than its predecessor, as this will signal that seniors are being prioritized fairly.
2. The COLA Is Fairly Owed No Matter Your Financial Status
Many people who have done well for themselves can live comfortably even without Social Security benefits. But remember, these are benefits you’ve paid into – if you aren’t getting what’s rightfully yours, you’re losing money no matter how well-to-do you are.
This attitude is also common among those who haven’t started receiving benefits yet. But remember, if benefits aren’t increased, you’re taking a loss every time you pay Social Security taxes.
3. The Current Estimate Is in the 3-4 Percent Range
While a lot can change before the official announcement next month, the current 2027 COLA estimate update puts the number at around 3-4 percent. This would constitute another jump from the previous year, setting in motion a trend that could improve Social Security for years or decades to come.
NORA campaigns for yearly COLAs, including reimbursement for years skipped. Sign our petition here, then be sure to follow us on Facebook and Twitter.
