Cost Of Living 2024 Social Security Increase 2024. The 2025 cola will be announced in october 2024. The senior citizens league said wednesday that the social security cost of living adjustment, or cola, will likely be 3.2% for 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. That would add about $57 to monthly.