Social Security recipients to get 3.6% cost of living boost, an average of $75 per month
A Social Security card is displayed Oct. 12, 2021, in Tigard, Ore. (AP Photo/Jenny Kane, File)
WASHINGTON (AP) — The Social Security Administration projected Wednesday that the annual cost-of-living adjustment for older adults and people with disabilities will go up by 3.6% beginning in 2027, with some recipients complaining that is not enough to offset soaring prices.
The adjustment translates to $75 extra per month for the nearly 72 million people who receive monthly Social Security benefits and about 7.3 million beneficiaries who get Supplemental Security Income.