2024 Social Security Cola Increase Chart

2024 Social Security Cola Increase Chart. In 2023, the social security administration indicated the cola would increase by 3.2% in 2024. Retirement and disability benefits will increase by 3.2% and more than $50 a month on average starting in january, the social security administration announced.

Social security benefits will increase by 3.2 percent beginning with the december 2023. That equates to an average monthly rise of about $55 for all social security.