Social Security Cola 2024 Estimate Calculator. For 2024, the 3.2% cola increase resulted from inflation during 2023. 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.

More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024. 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.