Social Security 2024 Cola Estimate. 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. The social security administration won't be able to officially announce a 2024 cola until october.
Ssa calculates the percent change. A 3.2% cola for 2024 would increase an average monthly retiree benefit of $1,790 by $57.30, the tscl said.