India, Sept. 8 -- Social Security is set for some changes in 2027, but the final numbers are not out yet. The official changes, including the 2027 cost-of-living adjustment (COLA), are expected to be announced on October 14, after the latest Consumer Price Index (CPI) data is released.

The biggest question for retirees is how much Social Security payments will increase in 2027. Current estimates suggest that beneficiaries could get a higher monthly payment next year because of inflation. AARP is currently projecting a 3.5% COLA for 2027. The estimate is based on current inflation trends, according to AARP.

A 3.5% COLA could mean about $73 more per month for retirees, on average. The exact increase for each person would depend on their c...