Cola Social Security 2024. The roughly 70 million americans who receive social security will see another significant increase to their benefits next year: A 3.2% cola for 2024 would increase an average monthly retiree benefit of $1,790 by $57.30, the tscl said.

In 2024, the annual increase to social security benefits (cola) will be 3.2%. That will raise the estimated average retirement benefit by $59 a month, from $1,848 to $1,907, starting in january, according to the social security administration (ssa).