2024 Cost Of Living Increase Social Security Benefits. A 3.2% cola for 2024 would increase an average monthly retiree benefit of $1,790 by $57.30, the tscl said. This means that more than 71 million americans will.

In 2024, the annual increase to social security benefits (cola) will be 3.2%. Social security benefits will increase by 3.2 percent beginning with the december 2023.