A 2.8% Social Security Increase Is Predicted — But a Proposal to Cap Benefits at $50,000 Has Seniors Pushing Back

A 2.8% Social Security increase would raise the average retired-worker benefit by $56.69, from $2,024.77 to $2,081.46. The Senior Citizens League (TSCL) predicts that this will be the 2027 cost-of-living adjustment, matching this year’s increase. The forecast relies on current Consumer Price Index data, Federal Reserve interest rates, and the national unemployment rate — all of which feed into TSCL’s monthly model. The official COLA won’t be announced until October 2026, once third-quarter inflation figures are finalized. Until then, the estimate will shift with incoming economic data.

At the same time, a proposal to cap benefits at $50,000 per person — or $100,000 per couple — is drawing sharp resistance. Put forward by the Committee for a Responsible Federal Budget, the so-called “Six Figure Limit” aims to close about three-fifths of Social Security’s projected 75-year funding shortfall. For many seniors, the cap looks less like fiscal responsibility and more like a cut. TSCL found that 95% of seniors oppose reducing benefits for current retirees. Even among future beneficiaries, 66% reject the idea.

Without congressional action, Social Security faces a potential 24% benefit cut in 2032.