Ss Cola 2024 Increase Announcement. Beginning in january, benefits will increase by 3.2%, or roughly $58 a month for the average retiree. 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.
By comparison, over the last three years, retirees. The senior citizens league is projecting that the 2025 cola is going to result in a benefits increase of just 2.63%.