Cola 2024 Fact Sheet. Social security benefits will increase by 3.2 percent beginning with the december 2023. A 3.2% cola for 2024 would increase an average monthly retiree benefit of $1,790 by $57.30, the tscl said.

Latest cola the latest cola is 3.2 percent for social security benefits and ssi payments. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024.