Technologies

Social Security Administration announces 3.6% cost-of-living adjustment for 2027

With a 3.6% COLA for 2027, Social Security retirement benefit checks will go up by $75 per month, on average, the agency said.

The Social Security cost-of-living adjustment will be 3.6% in 2027, the Social Security Administration said Wednesday.

The cost-of-living adjustment, or COLA, provides an annual inflation adjustment to both Social Security and Supplemental Security Income, or SSI, benefits.

Social Security retirement benefits will increase by $75 per month on average, the agency said.

“Social Security will implement this cost-of-living adjustment for 76 million Americans, giving them greater financial stability,” Social Security Commissioner Frank Bisignano said in a statement.

Around 72 million Social Security recipients will see the benefit increases in January, according to SSA. About 7.3 million SSI beneficiaries will receive higher payments starting Dec. 31, the agency said.

The 3.6% COLA for 2027 is in line with Social Security experts’ projections, which last month forecast an increase of 3.5% to 3.6%.

Bigger COLA comes amid higher inflation

The 3.6% COLA for 2027 is the largest increase to benefits since 2023. That year, beneficiaries received an 8.7% benefit boost — the highest in four decades — in response to rising inflation.

The 2026 COLA was 2.8%.

New government inflation data released Wednesday shows consumer price increases are accelerating. The consumer price index rose 3.7% over the past 12 months, as gas prices jumped.

About 40% of Social Security beneficiaries ages 65 and over rely on the program for at least half of their income, according to AARP.

A recent AARP survey found 76% of respondents said a 3.5% COLA would not be enough.

The Social Security COLA is “critically important” because it helps millions of Americans cover rising everyday costs, including groceries, routine bills and health care, AARP CEO Myechia Minter-Jordan said in a statement.

“There’s a lot on the line financially right now for older Americans: one in five have no retirement savings, and more people feel financially insecure this year than last,” Minter-Jordan said.

How to calculate your 3.6% benefit increase

Beneficiaries can multiply their current monthly benefit amount by 3.6%, or 0.036, to estimate the increase to their checks for 2027.

However, keep in mind that increases to Medicare Part B or Part D premiums for 2027 — which may be deducted directly from benefit checks — can affect the size of beneficiaries’ monthly payments.

Standard monthly premiums for Medicare Part B are projected to be $209.50 in 2027, up from $202.90 in 2026, according to a report from Medicare trustees. Some beneficiaries may pay extra surcharges, known as Income-Related Monthly Adjustment Amounts, or IRMAAs, if they have higher incomes. Medicare Part B covers medically necessary and preventive services.

Meanwhile, Medicare Part D prescription drug plans may see modest premium increases in 2027, according to an analysis by KFF, a nonpartisan health policy research group.

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The Social Security Administration will send beneficiaries notices about the COLA changes. The notices will include specific information about their 2027 benefits, including exact payment dates and dollar amounts as well as any deductions.

Individuals who have created online My Social Security accounts can access that information starting in late November, according to the agency. Beneficiaries without an online account who want to see their COLA notice online must create an account and opt into paperless notices by Nov. 18.

Beneficiaries who have not signed up to receive online notices will get mailed COLA statements in December. Those individuals should make sure the address the agency has on file is up to date, according to SSA.

Medicare premium amounts for 2027 will also be available online through the My Social Security message center starting in late November, the agency said.

How the Social Security COLA is calculated

The COLA is based on the percentage increase of one specific government inflation measure — the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W — from the third quarter of the previous year to the third quarter of the current year.

The CPI-W is a subset of the consumer price index that tracks the average change in prices for goods and services purchased by urban households.

The CPI-W rose 3.9% over the past 12 months, according to September data the Bureau of Labor Statistics released Wednesday.

Policymakers and advocates have proposed alternatives to the CPI-W for calculating the annual COLA. One alternative is the chained CPI, an index that accounts for changes in buying habits as prices rise. However, a recent AARP analysis found that switching to that measure would “substantially lower benefits over time.”

Others have proposed using the Consumer Price Index for the Elderly, or CPI-E, an experimental index that tracks spending for individuals ages 62 and over. However, some experts say the CPI-E does not necessarily grow much faster than the current measure used to calculate benefit increases.

Switching to a different COLA measure is among the changes lawmakers may consider in upcoming Social Security reform.

“Social Security’s future is on the ballot this November, and that includes the size of annual COLA adjustments,” said Nancy Altman, president of Social Security Works, an advocacy group focused on expanding Social Security.

Technologies

Key Details on Starshield, SpaceX’s Defense-Oriented Starlink Network

Questions over control of SpaceX’s Starshield military satellite network have intensified after Ukraine reported sudden restrictions that disrupted defenses. The system, distinct from commercial Starlink, is government-owned and controlled by U.S. authorities.

Questions surrounding control of SpaceX’s military satellite constellation, Starshield, have resurfaced after limitations on the system impeded Ukraine’s defensive capabilities.

Kyiv has leveled accusations against SpaceX

Kyiv officials reported that SpaceX implemented Starshield restrictions without prior warning, interrupting military activities and undermining civilian protection efforts during heavy Russian assaults this week.

Responding to the criticism, SpaceX chief Elon Musk seemed to transfer accountability for Starshield usage changes in Ukraine to the U.S. government and President Donald Trump. Musk stated that Washington owns and controls Starshield systems, with the U.S. military and ultimately the president setting any usage boundaries. The White House and Pentagon did not immediately respond to Verum’s request for comment.

Here’s an overview of Starshield and its distinctions from Starlink.

What is Starshield and how does it function?

Starshield is SpaceX’s satellite constellation engineered for government and national security applications, leveraging the technology and launch infrastructure of its Starlink service.

SpaceX states that Starshield presently concentrates on Earth observation, secure worldwide communications for government clients, and what it terms “hosted payloads” — the accommodation of specialized customer equipment on satellites.

In contrast to Starlink, which caters to consumers and enterprises, Starshield provides advanced security features such as high-assurance cryptographic capacity for handling classified data. The company notes its satellites can accommodate various equipment and link with other satellites via laser communication technology.

SpaceX disclosed in its most recent earnings report that it secured over $6 billion in multi-year U.S. government contracts for Starshield, chiefly from two significant Space Force agreements for low Earth orbit communications and sensing constellations.

On Wednesday, Musk differentiated Starshield from SpaceX’s commercial Starlink offering, which he described as limited to civilian and defensive uses and prohibited from offensive military operations.

How does Starshield contrast with Starlink?

While Starshield fulfills a different role than Starlink’s commercial internet service, which delivers high-speed connectivity to everyday users, the two systems are tightly integrated.

Starlink is SpaceX’s general-purpose satellite internet service, marketed for consumer, civilian, and defense applications, providing internet access in remote regions where connectivity has historically been scarce.

Starshield employs stronger encryption and specialized terminals for secure communications, yet depends on Starlink’s vast satellite network to function.

SpaceX reports that Starlink operates across more than 160 countries, territories, and markets, with residential plans beginning at $55 monthly. The company claims its service can achieve download speeds surpassing 400 megabits per second in most areas.

Technologies

TSMC posts record profit for sixth consecutive quarter, surpassing forecasts amid AI-driven surge

TSMC reported record third-quarter profit of NT$763.1 billion, driven by strong AI demand and advanced chip technologies. The company also announced plans to increase capital expenditures and expand its U.S. manufacturing operations.

Taiwan Semiconductor Manufacturing Co

Here are TSMC’s third-quarter results against LSEG SmartEstimates, which are weighted toward forecasts from analysts who are more consistently accurate:

Revenue: 1.49 trillion new Taiwan dollars ($46.36 billion) vs. NT$1.47 trillion
Net Income: NT$763.1 billion vs. NT$746.34 billion expected

The world’s largest contract chipmaker posted a record net profit for a sixth straight quarter, reporting 68.7% surge in the reported quarter from a year earlier.

TSMC’s third-quarter operating margin came in at 58.7%, exceeding the upper end of its guidance range of 58%, showcasing the pricing power enjoyed by the company as the AI boom fuels demand for semiconductors.

TSMC forecast fourth-quarter revenue between $52.3 billion and $54.3 billion, representing a 14% sequential increase and a 58% jump from a year earlier at the midpoint of its guidance range, according to the company’s earnings call.

The chipmaker expects its capital expenditure from 2026 to 2028 to be significantly higher than in the previous three years, as it continues to ramp up investments to support growing customer demand.

TSMC expects its fourth-quarter business to be supported by continued strong demand for its advanced chipmaking technologies, including the ramp-up of its 2-nanometer process.

Advanced technologies, defined as 7-nanometer and more advanced technologies, made up for 79% of total wafer revenue. The 3-nanometer chips accounted for the largest share of its revenue in the third quarter at 33%, followed by 5- and 7-nanometer chips.

By platform, high-performance computing accounted for the largest share of revenue at 68%, followed by smartphones at 21%. Meanwhile, automotive was the fastest-growing segment on a quarter-on-quarter basis, with 23% growth rate.

TSMC said demand for AI chips remains strong, driven by the growing adoption of agentic AI and open-source AI models, which are expected to make AI more accessible and fuel demand for advanced semiconductors.

The company’s free cash flow surged to NT$476.56 billion in the third quarter, from NT$139.38 billion a year ago.

TSMC also pointed to rising demand for AI accelerators, processors used in agentic AI applications and networking, adding that semiconductors are set to play an increasingly important role in the global AI supply chain.

TSMC also said it had completed construction of its second fab in Arizona and is installing equipment, with mass production expected to begin in the third quarter of 2027, slightly ahead of its previous schedule.

TSMC board approved NT$7.00 cash dividend for the second quarter. During its second-quarter earnings announcement in July, TSMC had outlined plans to expand its U.S. manufacturing footprint, including a total planned investment of $265 billion in Arizona.

The chipmaker is also reportedly considering expanding beyond Arizona, evaluating a potential investment in Texas as it looks to further strengthen its U.S. manufacturing presence.

Technologies

Elon Musk blames Trump and US government for Ukraine Starshield restrictions

Elon Musk has blamed the U.S. government and President Donald Trump for any restrictions imposed on Ukraine’s military-grade Starlink network, following accusations from Kyiv that SpaceX quietly limited access to Starshield services.

Elon Musk has stated that any limitations placed on Ukraine’s military-grade Starlink network were the result of decisions made by the U.S. government and, ultimately, U.S. President Donald Trump.

This follows accusations from Ukraine that SpaceX introduced new restrictions on the Starshield internet service without prior notice, causing disruptions to Ukrainian military operations.

Nevertheless, it seems that some of these restrictions have been eased as of Thursday.

Kent Nishimura | AFP | Getty Images

SpaceX founder and CEO Elon Musk said Wednesday that the U.S. government and President Donald Trump bore responsibility for any limitations on Ukraine’s military-grade Starlink network.

In a post on X, Musk wrote: “Starshield systems are owned and controlled by the U.S. government. Any limits on speed or usage are decided by the US military and ultimately POTUS.”

Ukraine had accused SpaceX of quietly implementing new restrictions on the Starshield internet service, which disrupted Ukrainian military operations during renewed Russian attacks on its energy infrastructure.

On Wednesday, Serhii Beskrestnov, an advisor to Ukrainian President Volodymyr Zelenskyy on defense technology, claimed that SpaceX had introduced a speed cap on Starlink terminals in motion without informing the country’s defense forces.

This reportedly disrupted certain missions, and the same restrictions also affected Starshield, according to a statement on Telegram. As noted by Beskrestnov, Starlink is used to operate Ukraine’s interceptor drones — described as the “most effective solution” against Moscow’s Shahed drones.

Musk clarified that Starshield is a military-grade satellite network, whereas Starlink is intended solely for “civilian or defensive activities.”

Some restrictions appear to have been partially lifted, with former Ukrainian defense minister Mykhailo Fedorov thanking Musk early Thursday morning after Starlink connectivity at speeds of up to 160 kilometers per hour was restored. “Removing Starshield’s speed limit entirely is now critical for Ukraine’s defense,” Fedorov added.

These developments occur against the backdrop of ongoing tensions between Kyiv and Washington regarding an “energy ceasefire” announced by U.S. President Donald Trump between Ukraine and Russia.

Ukraine has expressed support for the deal, contingent on Moscow adhering to its commitments, while Russian authorities have said negotiations are continuing without confirming an agreement. On Monday, Zelenskyy accused Russia of violating the ceasefire.

Trump has also criticized Ukraine for continuing to target Russian energy facilities, suggesting that Kyiv’s actions were responsible for rising diesel prices, rather than the U.S. conflict with Iran.

Washington has reportedly threatened to reduce intelligence sharing with Kyiv, as reported by Reuters on Wednesday, while Ukrainian officials stated the previous day that they had not received alerts about incoming Russian attacks for two consecutive days.