Social Security Official Cola For 2024

Social Security Official Cola For 2024. Social security benefits will see a cola increase of 3.2% in 2024, the social security administration announced thursday morning. Starting in january, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 — from $1,848 to $1,907.

Once that information comes in, the social security administration (ssa) will be able to calculate a cola for 2024. We will announce the next cola in october 2025.