Social Security Increase 2024 Update News. For 2024, social security recipients got a 3.2% cola. Starting in january, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 — from $1,848 to $1,907.

In addition to a 2024 cola announcement, the ssa will put out a fact sheet. Starting in january, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 — from $1,848 to $1,907.