For seniors on Social Security, it means something else entirely: waiting to find out how much bigger their monthly checks will get next year. Mary Johnson, an independent Social Security and Medicare analyst, told CNBC she estimates the 2027 COLA might be around 3.7 percent. Life Are Social Security Changes Leaving You Money on the Table? “Social Security is a promise kept, and the annual cost-of-living adjustment is one way we are working to make sure benefits reflect today’s economic realities and continue to provide a foundation of security,” Social Security Administration Commissioner Frank J. Bisignano said in a statement at the time. “The cost-of-living adjustment is a vital part of how Social Security delivers on its mission.”