Estimated 2024 Social Security Cola Increase. A 3 percent adjustment would boost the average social security retirement benefit — $1,839 a month in july 2023 — by about $55 a month in 2024. The ssa is expected to announce the 2024 social security cola.

Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct. A 3 percent adjustment would boost the average social security retirement benefit — $1,839 a month in july 2023 — by about $55 a month in 2024.