Social Security 2027: All the Key Numbers
Every 2027 Social Security figure — 3.6% COLA, $192,300 wage base, earnings test limits, credit amounts, FRA, and bend points — with 2026 comparison
Key Numbers
2027 COLA
3.6%
Wage Base
$192,300
Earnings Test
$25,560
FRA (1960+)
67
The Social Security Administration announced the 2027 figures on October 14, 2026. The headline: a 3.6% COLA (up from 2.8% for 2026) and a taxable wage base of $192,300, up $7,800. This page collects every number that changed; the bend points page covers how the benefit formula itself uses them.
All the 2027 Numbers
| Figure | 2027 | 2026 |
|---|---|---|
| Cost-of-living adjustment (COLA)Applies to benefits payable beginning December 2026 (paid January 2027). CPI-W Q3 2025 → Q3 2026. | 3.6% | 2.8% |
| Taxable wage base (maximum earnings subject to OASDI tax)OASDI tax is 6.2% each for employee and employer up to this amount. Medicare 1.45% has no cap. | $192,300 | $184,500 |
| Earnings test — under full retirement age all year$1 of benefits withheld for every $2 earned above the limit. | $25,560 | $24,480 |
| Earnings test — the year you reach full retirement age$1 withheld for every $3 above the limit, counting only months before reaching FRA. No limit after FRA. | $67,920 | $65,160 |
| Earnings per credit (quarter of coverage)Max 4 credits per year — $7,880 of covered earnings earns all four in 2027. 40 credits to qualify for retirement benefits. | $1,970 | $1,890 |
| Full retirement age (born 1960 or later)The phase-in from age 65 enacted in 1983 completed in 2026; FRA is a flat 67 for everyone born 1960 or later. | 67 | 67 |
| PIA formula bend points (first eligible in 2027)90% of AIME to $1,340, 32% from $1,340–$8,077, 15% above. Full breakdown on the bend points reference page. | $1,340 / $8,077 | $1,286 / $7,749 |
| Maximum monthly benefit — worker retiring at FRA | $4,188 | $4,152 |
| Maximum monthly benefit — claiming at 62Reflects the 30% early-claiming reduction for FRA 67. | $3,094 | $2,969 |
| Maximum monthly benefit — claiming at 70Reflects 8%/year delayed retirement credits from FRA to 70. | $5,358 | $5,181 |
| Average monthly benefit — all retired workers (January)SSA's estimate after the COLA is applied. | $2,170 | $2,071 |
| SSI federal payment standard (individual / couple) | $1,029 / $1,544 | $994 / $1,491 |
The claiming decision is worth more than the COLA.
Claiming at 62 versus 70 can swing lifetime benefits by six figures — and it interacts with your withdrawals, taxes, and spousal benefits. WiserAdvisor matches you with up to three vetted fiduciaries who model claiming strategies, free, in about 5 minutes.
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How the 2027 Earnings Test Works
If you collect benefits before full retirement age while still working, the earnings test temporarily withholds part of your check:
- Under FRA all of 2027: $1 withheld per $2 earned above $25,560. Earn $40,000 and about $7,220 of benefits are withheld for the year.
- The year you reach FRA: a gentler $1 per $3 above $67,920, counting only earnings in the months before your FRA month.
- FRA and beyond: no limit at all — and SSA recalculates your benefit at FRA to credit back the months that were withheld. The earnings test defers benefits; it doesn’t confiscate them.
Only wages and self-employment earnings count — pensions, IRA and 401(k) withdrawals, interest, dividends, capital gains, and rental income do not trigger the earnings test.
2027 Bend Points — Benefit Formula Snapshot
For workers first eligible (turning 62) in 2027, the primary insurance amount formula applies three slices to your average indexed monthly earnings:
| AIME slice | Replacement rate |
|---|---|
| First $1,340 | 90% |
| $1,340 to $8,077 | 32% |
| Above $8,077 | 15% |
Full mechanics — AIME indexing, worked PIA examples, and the family-maximum formula — live on the Social Security bend points reference page.
Numbers in hand — now coordinate the claim.
Earnings test, taxation of benefits, survivor planning: an advisor can fold Social Security into your full retirement income picture. WiserAdvisor connects you with up to three local fiduciaries, free, in about 5 minutes.
FinanceWonk earns a referral fee when readers request a match through this link — at no cost to you.
Social Security 2027 Questions
What is the Social Security COLA for 2027?
3.6%, announced October 14, 2026, up from 2.8% for 2026. It applies to benefits payable beginning December 2026, which arrive in January 2027 checks. The COLA is the percentage increase in the CPI-W from the third quarter of 2025 to the third quarter of 2026.
How much of my income is subject to Social Security tax in 2027?
Up to $192,300 of wages or self-employment income — the taxable maximum, up from $184,500 in 2026. You and your employer each pay 6.2% on earnings up to that cap. The 1.45% Medicare tax applies to all earnings with no cap.
How much can I earn while collecting benefits before full retirement age?
$25,560 in 2027 if you are under FRA all year — above that, $1 of benefits is withheld per $2 earned. In the calendar year you reach FRA, the limit jumps to $67,920 with a gentler $1-per-$3 reduction, counting only earnings before the month you reach FRA. Once you reach FRA there is no earnings limit, and withheld benefits are credited back through a recalculation.
What is the maximum Social Security benefit in 2027?
$4,188 a month for a worker retiring at full retirement age (67) in 2027, $3,094 claiming at 62, and $5,358 waiting until 70 — all three require earning at or above the taxable maximum for 35 years. Up from $2,969 / $4,152 / $5,181 in 2026.
What is the full retirement age in 2027?
67 for everyone born in 1960 or later. The 1983 amendments finished phasing in during 2026: workers born in 1959 reached their FRA of 66 and 10 months during 2025–2026, and every cohort reaching FRA from then on has a flat 67.
How do I earn Social Security credits in 2027?
One credit per $1,970 of covered earnings, up to 4 credits per year — so $7,880 of 2027 earnings secures the maximum four. You need 40 credits (roughly 10 working years) to qualify for retirement benefits.
This content is for educational and informational purposes only and does not constitute financial, tax, or legal advice. Consult a qualified professional for guidance tailored to your situation.
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