Cost Of Living 2024 Social Security Increase. Starting in january, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 โ from $1,848 to $1,907. We will announce the next cola in october 2024.
Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning. That adds about $50 monthly to the.