2027 Social Security Benefit Changes: ‘Everything’s Being Considered,’ SSA Administrator Says
Here's when the SSA will reveal the COLA increase—and how the retirement age already shifted
Key Takeaways
- The Full Retirement Age is now 67 for anyone born in 1960 or later.
- The 2027 COLA will be announced October 14, alongside September's inflation data.
- Zero-COLA years in Social Security history were 2010, 2011 and 2016.
Major changes are coming to your Social Security benefits. Not only has the Social Security Administration (SSA) raised the Full Retirement Age (FRA), but they are also expected to announce their 2027 cost-of-living-adjustment (COLA) increase within the next six weeks, a factor that will determine how much money seniors get every month. To learn more about the FRA and the 2027 COLA, keep scrolling.
How old do you have to be to claim Social Security?
Social Security is a government-funded program that sends money to Americans every month. It’s reserved for seniors aged 62 and older who have at least 40 credits (equal to 10 years of work). The amount seniors get is determined by their lifetime earnings, adjusted for wage growth and the age at which they start collecting benefits.
Most people wait until they hit the FRA to claim their benefits if they can; otherwise their monthly benefits could be at least 30 percent lower. The FRA is determined by the senior’s birth year, meaning that depending on when people were born the age at which they can claim their full Social Security benefits changes. This is a direct result of Social Security Amendments of 1983, which was signed into law by former President Ronald Reagan, and made it so that the FRA would gradually increase from 65 to 67 in an effort to prevent the Social Security fund from running out. The last increase from the bill happened just this year, raising the FRA from 66 and 10 months to age 67 for a select group of people. You can see which people, as well as the rest of the FRA chart, below.
- If you were born between 1943 and 1954 your FRA is 66.
- If you were born in 1955 your FRA is 66 and two months.
- If you were born in 1956 your FRA is 66 and four months.
- If you were born in 1957 your FRA is 66 and six months.
- If you were born in 1958 your FRA is 66 and eight months.
- If you were born in 1959 your FRA is 66 and 10 months.
- If you were born in 1960 and beyond your FRA is 67.
The FRA increase in 2026 was the last planned one, but SSA administrator Frank Bisignano has mentioned the possibility of future increases, but nothing has been decided.
“I think everything’s being considered,” Bisignano told former Fox News host Maria Bartiromo on her show “Mornings with Maria” in September 2025 while discussing how to prevent Social Security funds from running out in 2032.
Following that interview, Bisignano released a statement to Fox News clarifying what he meant.
“Let me be clear: President Trump and I will always protect Social Security. That’s why we have made many vital reforms, such as cutting waste, fraud and abuse from the program, to ensure the solvency of Social Security for future generations of Americans. Raising the retirement age is not under consideration at this time by the Administration,” the statement read. “Remember, most people told you and me Social Security wasn’t going to be around. And so the generations that are coming in will probably have a different set of rules than we had.”
What will Social Security benefits be in 2027?
Every year the SSA discusses giving seniors a COLA increase to help them keep up with inflation, tariffs and more. In 2026 the COLA was 2.8 percent, but it has been as high as 14.3 percent in 1980, but in 2010, 2011 and 2015 there were no increases.
As for the 2027 COLA, that’s anyone’s guess. AARP predicts it will be 3.5 percent.
“Family budgets have been under increasing pressure because of rising prices,” Rich Johnson, vice president for financial security at the AARP Public Policy Institute, said in a statement. “The sooner that we can give them reliable information as to how much their benefits might [increase next year], the sooner they can start planning.”
So, when will the 2027 COLA be announced? Jason Gerstenberger, an independent insurance broker, tells Woman’s World, “The SSA is scheduled to announce the 2027 COLA on October 14, which is also the same morning the September inflation report comes out. It comes out at this time because the COLA gets calculated by comparing third quarter inflation data (July, August, and September) to the same period the year before.”
“Inflation has been stubborn so far this year, so I would not be surprised at all to see [the COLA] on the higher side,” he continued. “The big thing to remember is COLA is not a raise, it’s a patch. The adjustment is for prices that have already gone up last year, so plan for it to bolster current bills but don’t look for new ways to spend the increase.”
Ready for more? Subscribe to our YouTube channel for video podcasts, health tips and uplifting stories designed for women 40, 50, 60 and beyond.
social socail
Conversation
All comments are subject to our Community Guidelines. Woman's World does not endorse the opinions and views shared by our readers in our comment sections. Our comments section is a place where readers can engage in healthy, productive, lively, and respectful discussions. Offensive language, hate speech, personal attacks, and/or defamatory statements are not permitted. Advertising or spam is also prohibited.
