Jobie Augustina

Cost Of Living 2024 Social Security Estimate. It’s not going to approach 2023’s historically high cola increase of 8.7%, but the 2024 social security cost of living adjustment is expected to be 3.2%, which if it comes to fruition would raise an average monthly retiree benefit of $1,790 by $57.30. These estimates are derived from the intermediate assumptions in the 2024 trustees report.

Estimate your monthly social security retirement benefit using your age, income and when you want to retire. In 2023, the social security cola was 8.7%.