Cola 2024 Prediction Social Security Rate. The latest forecast for next year’s increase is 3.2%. The nation's more than 70 million social security recipients may want to temper their expectations of how much.
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. The latest cola is 3.2 percent for social security benefits and ssi payments.