Social Security Cola 2024 Estimate Date. The social security administration announced on october 12, 2023, that benefits will increase by 3.2% in 2024, a far more modest. 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 projected actuarial deficit over. Here’s how to make the.