Jany Zsazsa

2024 Social Security Cola Increase. 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. Here’s the inflation breakdown for september 2023 — in one chart.

Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024. The latest cola is 3.2 percent for social security benefits and ssi payments.