Social Security recipients are projected to get a bigger cost-of-living increase next year to counter a rise in inflation. Social Security COLA 2027By the numbers:TSCL predicts that Social Security’s 2027 cost-of-living adjustment will be 3.8%, up 1 percentage point from last year’s 2.8%. RELATED: Social Security launches new online tools for disability claims"Americans have worked hard and paid into Social Security their entire lives, and they deserve to count on it when they retire," Minter-Jordan said in a statement. Social Security benefits were last reformed roughly 40 years ago, when the federal government raised the eligibility age for the program from 65 to 67. It would be funded by an increase in the Social Security payroll tax, and expanding the tax to cover income over $400,000.