Expected Cola Increase 2024. A 3.2% cola for 2024 would increase an average monthly retiree benefit of $1,790 by $57.30, the tscl said. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in.

Social security benefits will increase by 3.2 percent beginning with the december 2023. Ssa calculates the percent change between.