Pakistan, Oct. 14 -- More than 75 million Americans receiving Social Security benefits are set to learn their 2027 payment increases on Wednesday, October 14. The Social Security Administration will announce its annual cost-of-living adjustment, known as COLA. Forecasts suggest an increase of 3.5% to 3.6%, potentially providing retirees with higher monthly payments.

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Based on current estimates, the average retired worker could receive an additional $72 to $75 per month. The final amount will depend on the officially announced adjustment and each recipient's existing benefit. If approved at the projected level, the increase would take effect in January 2027.

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