Social Security 2024 Cola Increase News. In january 2024, payments rose by 3.2% over 2023, according. A cola of 3.5% would raise the average social security retirement benefit by $62.73 a month, based on the latest social security administration data.

— as january approaches, tens of millions of older americans are anticipating a modest increase in their social security benefits with the introduction of a. Based on current estimates as of september.