00:00Millions of Americans relying on Social Security will see a bigger check next year,
00:04but the boost may not go as far as they hope. The Social Security Administration has announced a
00:103.6 percent cost of living adjustment for 2027, increasing the average retirement benefit by
00:16about $75 a month starting in January. The increase will reach nearly 72 million Social
00:23Security beneficiaries, while Supplemental Security income recipients will also see higher payments.
00:29However, rising costs for groceries, housing, energy and health care
00:32could eat into those gains, leaving many retirees still struggling to keep up.
