The Social Security Administration has announced that Social Security benefits for 2027, including Old-Age, Survivors and Disability Insurance (OASDI) and Supplemental Security Income (SSI) payments, will increase 3.6%. This is the largest annual cost-of-living increase since 2023, driven primarily by high inflation. Social Security retirement benefits will increase by about $75 per month on average starting in January. Increased payments to SSI recipients will begin on Dec. 31, 2026. (Note: Some people receive both Social Security benefits and SSI.) The maximum earnings subject to Social Security tax (the so-called “wage base”) will increase $7,800, from $184,500 to $192,300.
