The Social Security Administration announced that benefits will rise 3.6 percent in 2027 under the COLA.

Everything from monthly Social Security benefits to how much payroll tax select workers will owe is changing in the coming year.

Sen. Bill Cassidy warns the 3.6% Social Security COLA could drain the trust fund faster, leaving Congress roughly five and a half years to act before retirees face steep benefit cuts.

Social Security’s 3.6% 2027 cost-of-living increase will raise benefits, but some retirees may still face higher taxes as benefits become taxable based on income; advocates say the adjustment may not keep pace with expenses.

Social Security recipients will receive a 3.6% cost of living adjustment in 2027. But that figure is just one of the key announcements made by the agency this week. Here’s a look at what you need to know Social Security COLA Some 76 million Social Security and Supplemental Security Income beneficiaries will receive 3.

Surveys and tax-linked research paint different pictures of retirees’ reliance on Social Security. Here’s what’s behind the gap—and what the numbers reveal.

Social Security gets most of its funding from payroll taxes. Workers pay into the program at a rate of 6.2%, and their employers match that same rate. Self-employed people pay Social Security taxes at a rate of 12.4% because they don't have an employer to split the bill with.