2024 Social Security Increase Estimated Increase

2024 Social Security Increase Estimated Increase. It's a smaller bump than the 8.7% cola increase beneficiaries received for this year, reflecting the gradual decrease. A 3.2% cola for 2024 would increase an average monthly.

Following the cola of 2023, the amount would have gone up by an estimated $92 to $1,151. Here are five important ways social security will be different in 2024.