Cola Increase 2024 News Update. Tscl estimates that if the 2.5% cola is the actual final increase, the average social security recipient will receive an additional $48 a month, bumping the average. A cola of 3.0% would raise the current average monthly benefit of $1,787.00 by about $53.60, according to the senior citizens league.
Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024.
