Social Security 2024 Cola Increase Projection

Social Security 2024 Cola Increase Projection. Social security benefits will increase by 3.2 percent beginning with the december 2023 benefits, which are payable in january 2024. This year’s 8.7% cola raised the average monthly retiree benefit by about $144 to $1,800.

Lawmakers take aim at credit card debt, interest rates, fees. Retirees on social security will once again receive a cola in 2025 but it won’t be as big as the one in 2024 because inflation has cooled down.