Social Security Cost Of Living Increase 2024. 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. The nation's 72 million social security beneficiaries will get a raise starting in 2024 to keep their benefits aligned with inflation.

Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning. 10, if the senior citizens league prediction is accurate, it would.