2024 Social Security Cola Increase Update. A 3 percent adjustment would boost the average social security retirement benefit — $1,839 a month in july 2023 — by about $55 a month in 2024. This adjustment will affect social security retirement, disability, and ssi payments.
The cola increase means your ssdi, ssi, or social security retirement benefits will be 3.2% higher in 2024. This adjustment will affect social security retirement, disability, and ssi payments.