Rowe Wanids

Estimated Cola Increase For 2024. That’s down from the 3.2% boost to benefits americans saw in. A cola that matches the 2.9 percent july figure would increase the average social security retirement benefit — about $1,870 a month in june 2024 — by $54 a month starting in january 2025.

A cola changes benefits based on changes in consumer prices. That’s lower than the 2023 cola.