Cola 2024 Prediction Social Security. Social security benefits will increase by 3.2 percent beginning with the december 2023. A 3.2% cola for 2024 would increase an average monthly retiree benefit of $1,790 by $57.30, the tscl said.

In september, tscl projected the 2025 social security cola will be 2.5%. Based on the latest inflation numbers, the senior citizens league now predicts the 2024 cola for social security benefits could be 3.1%.