Social Security Cola 2024 Announcement Date. Starting in january, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 โ from $1,848 to $1,907. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024.
Social security benefits will increase by 3.2 percent beginning with the december 2023. Here are some ideas to help you decide what to do with the extra money from the social security cola in 2024: