Cost-of-Living Adjustment (COLA): A 3.6% increase takes effect for January 2027 payments (and December 31, 2026 for Supplemental Security Income [SSI] recipients). 

Average Benefit Increase: The average retired worker's monthly payment rises by about $75 (from roughly $2,095 to $2,170). 

Maximum Taxable Earnings (Wage Cap): The wage base limit increases from $184,500 to $192,300, meaning earnings above this amount are exempt from the 6.2% Social Security payroll tax. 

Retirement Earnings Test Limits:

• For beneficiaries under full retirement age (FRA) all year, the limit rises to $25,560 ($1 withheld for every $2 earned above it).

• For beneficiaries reaching FRA in 2027, the limit rises to $67,920 ($1 withheld for every $3 earned above it prior to the month they reach FRA).

Quarter of Coverage: The amount needed to earn one Social Security credit increases to $1,970. 

SSI Federal Payment Rates: Individual SSI payments increase to $1,029 per month and couple payments increase to $1,544 per month.