Social Security beneficiaries could see a substantial bump in their checks in 2027 as inflation continues to rise, according to an early projection from The Senior Citizens League (TSCL).

 

The TSCL model predicts that the Cost of Living Adjustment (COLA) will be 3.9 percent next year, up from an earlier, “meager” projection that it would remain at 2.8 percent.

The annual COLA updates are meant to protect the purchasing power of Social Security beneficiaries when it comes to staple necessities such as food, housing and medicine. Increases vary and are meant to track inflation data.

The average monthly check would go up just over $81, not enough to cover rising costs, according to the TSCL.