Estimated Cola For Social Security 2024 Increase. Washington (ap) — millions of social security recipients will get a 3.2% increase in their benefits in 2024, far less than this year’s historic boost and reflecting. Tscl estimates that if the 2.5% cola is the actual final increase, the average social security recipient will receive an additional $48 a month, bumping the average.
Social security cola increase could be around 3.2% in 2024, based on latest data. 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.
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