Cola 2024 Prediction Social Security Number. How much is the 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.
There’s a chance 2024’s cola will end up a bit higher or lower than 3.2%, depending on how things shake out in september. In january 2024, payments rose by 3.2% over 2023,.