Social Security 2024 Cola Increase Date

Social Security 2024 Cola Increase Date. When will you know your social security cola for 2024? 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.

Since 1975, social security’s general benefit increases have been based on increases in the cost of living, as measured by the consumer price index. 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.