Cost Of Living 2024 Social Security Forecast 2024.  — a 3.2% cola for 2024 would increase an average monthly retiree benefit of $1,790 by $57.30, the tscl said.  — since 1975, the social security administration has adjusted social security payments on an annual basis to ensure benefits keep pace with inflation.

Some retirees might be looking at an extra $47 or so a month beginning. Increased payments to approximately 7.5 million ssi recipients will begin on december 29, 2023.