Cost Of Living Increase 2024 Social Security. Starting in january, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 โ from $1,848 to $1,907. Senior citizens are getting a much smaller raise in 2024 than they did in 2023.
More than 66 million retirement. The cola was 3.2 percent in 2024.