Social Security Cola 2024 Estimate Increase 2024. These estimates are derived from the intermediate assumptions in the 2024 trustees report. Data from the ssa shows that the average social security benefit in august 2023 was $1,705.79.

The social security cola could be 2.7% in 2024 based on the latest consumer price index data, according to the senior citizens league, a nonpartisan. Beginning in january 2024, checks reflecting those increases.