Cola For 2024 Projection. The cola for 2022 was 5.9%. If consumer prices in august and september 2024 stay at the same level as in july 2024, the 2025 social security cola will be 2.4%.
A 3 percent adjustment would boost the average social security retirement benefit — $1,839 a month in july 2023 — by about $55 a month in 2024. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024.