Millions of Americans receiving Social Security benefits are set to get their next monthly payments this week, while many retirees are also closely watching signs that next year’s Cost of Living Adjustment (COLA) could rise more sharply than expected as inflation accelerates again.
The Social Security Administration (SSA) spreads payments throughout the month rather than issuing checks all at once for those collecting retirement, survivor and disability benefits through the nation’s largest social safety net program.
When Are Social Security Payments Arriving?
Recipients born between the 11th and 20th of any month are scheduled to receive their payments on Wednesday, May 20.
Further Payment Dates
- Wednesday, May 27: Birth dates between the 21st and 31st.
- Monday, June 1: Supplemental Security Income (SSI) payments.
- Wednesday, June 3: Social Security payments for those collecting SSI and those who have received retirement benefits since before May 1997.
The SSA advises beneficiaries to allow up to three business days for payments to arrive before contacting the agency in case of delay.
How Much Do Social Security Recipients Receive?
Monthly retirement payments can vary depending on a person’s work history, earnings record and the age at which they begin claiming benefits.
To qualify for Social Security retirement benefits, workers generally need at least 40 credits, with a maximum of four credits earned per year. For most Americans, that means roughly 10 years of work are required to become eligible.
A worker who earned the taxable maximum throughout their career and began claiming benefits in 2026 would receive around $4,152 per month at full retirement age. Claiming earlier, at age 62, would reduce that figure to roughly $2,969 per month, while delaying benefits until age 70 would increase payments to approximately $5,181 monthly.
Most retirees receive less than those maximum figures. As of March 2026, the average monthly benefit for a retired worker is $2,024.77.
Inflation Could Push COLA Up in 2027
Social Security beneficiaries receive yearly increases through the Cost of Living Adjustment, or COLA, which is designed to help payments keep pace with inflation. Although the official 2027 COLA will not be announced until October, early estimates suggest beneficiaries could see a larger increase than the 2.8 percent adjustment issued this year.
The Senior Citizens League (TSCL) has projected a 3.9 percent increase for 2027, while independent Social Security analyst Mary Johnson has estimated the adjustment could reach 4.2 percent.
Those projections come as inflation readings have accelerated in recent months. The CPI-W, the inflation measure used to calculate Social Security COLAs, rose 3.9 percent over the last 12 months. Earlier this year, CPI-W inflation measured 2.2 percent in January and February before climbing to 3.3 percent in March amid rising energy prices linked to the ongoing Iran conflict.
Much of the recent increase has been driven by rising fuel and energy prices, although housing and food costs also contributed. The conflict involving the U.S., Israel and Iran, along with the effective closure of the Strait of Hormuz shipping route, has increased global oil prices and pushed gasoline costs higher across the United States.
Because gasoline and electricity costs carry substantial weight within the CPI-W formula, sharp increases in energy prices can quickly affect expectations for Social Security’s annual adjustment.
What a Higher COLA Could Mean for Retirees
Using the average retired worker benefit of $2,024.77 per month:
- A 3.9 percent COLA would increase monthly benefits by about $78.96
- A 4.2 percent COLA would raise payments by around $85.04 per month
Even with the prospect of a larger adjustment next year, some advocates for older Americans say many retirees continue to struggle with rising living costs.
TSCL executive director Shannon Benton said inflation continues to place pressure on seniors living on fixed incomes.
“Many seniors are telling us the same thing: as inflation picks back up, life still does not feel affordable. The average senior already lives on much less than younger Americans, according to the Census Bureau, and our supporters constantly tell us they feel like they’re falling farther and farther behind.”
“For retirees living on fixed incomes, the costs that matter most, especially health care, housing, utilities, and insurance, continue to rise faster than prices in the rest of the economy, silently wrenching seniors dry,” she continued. “This makes the national affordability conversation even more important than ever.”
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