Cola Increase 2024 Projections

Cola Increase 2024 Projections. Social security recipients may see it shrink more. 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 latest projections estimate the 2025 cola coming in at around 2.63%, according to the senior citizens league. The latest forecast for next year’s increase is 3.2%.