Social Security Cola 2024 Increase Percentage Change

Social Security Cola 2024 Increase Percentage Change. On average, social security retirement benefits will increase by more. The average monthly payout for a retired worker is now $1,907.

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. 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.