Social Security 2024 Cola Projection. A cola that matches the 2.9 percent july figure would increase the average social security retirement benefit — about $1,870 a month in june 2024 — by. This is significantly lower than the 2023.

Most americans cheer cooling inflation, but social security recipients worry cola for 2024 could end up less than a third of 2023’s 8.7% increase. This is significantly lower than the 2023.