Social Security Cola 2024 Estimate Increase Chart. The nation's 72 million social security recipients are just days away from getting a boost to their monthly benefits. On average, social security retirement benefits will increase by more.
More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024. A 3.2% increase in the average social security check—about $1,706 in august 2023, the latest data available—would raise that monthly payment to $1,761, a $55 bump.