Older Americans relying on Social Security could see their monthly benefits rise by about $56 next year, according to new estimates — but advocates warn the increase is unlikely to keep pace with rising living costs, Connecticut Post reports.

The Senior Citizens League projects a 2.8% cost-of-living adjustment for 2027, the same percentage as last year’s increase.

If that estimate holds, the average monthly benefit for retired workers would climb from $2,024.77 to approximately $2,081.46 — a $56.69 gain.

While the bump may appear modestly positive on paper, senior advocates say it won’t go far enough for retirees living on fixed incomes.

Nora Duncan, state director for AARP Connecticut, said the projected COLA is “not necessarily a bad number,” but emphasized that it fails to reflect the financial strain many older Americans are facing.

“We’re seeing rising costs everywhere,” Duncan said. “It’s a concern for people with fixed incomes who can’t go find another job — but it’s a concern for everybody.”

Inflation in key categories such as housing, healthcare, and food continues to weigh heavily on retirees, many of whom depend primarily on Social Security for income. Duncan added that the anticipated increase is unlikely to offset those day-to-day expenses.

“I don’t think the COLA is going to cut it when it comes to what people are really facing in their everyday lives,” she said.

The official Social Security COLA will be announced later this year and is set to take effect in January.