Cost Of Living 2024 Social Security Increase. A 3.2% cola for 2024 would increase an average monthly retiree benefit of $1,790 by $57.30, the tscl said. The cola is adjusted annually.
Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct. Social security benefits will increase by 3.2 percent beginning with the december 2023 benefits, which are payable in january 2024.