Ss Cola 2024 Increase Announcement. The social security administration says that will raise average monthly payments by more than $50. A 3.2% cola for 2024 would increase an average monthly retiree benefit of $1,790 by $57.30, the tscl said.
Learn what that means and how it could affect you. Given the recent high cola of 8.7% in 2023 and the anticipated lower increase in 2024, individuals nearing retirement should weigh the benefits of claiming.