2024 Cola Increase Estimate. The annual social security cola is likely to be less than the 2024 cola of 3.2%, which bumped up the average monthly benefit by more than $50. The latest cola is 3.2 percent for social security benefits and ssi payments.
A cola that matches the 2.9 percent july figure would increase the average social security retirement benefit โ about $1,870 a month in june 2024 โ by. The latest social secrity 2025 cola estimate fell to 2.7% after overall inflation cooled in june.