Social Security Increase 2024 Estimate. Inflation cooled considerably in 2023, but consumer prices still went up, producing a 3.2 percent cola for social security beneficiaries. The social security administration announced its annual cost of living adjustment for 2024.
Benefit estimates depend on your date of birth and on your earnings history. For retired social security benefits recipients, that means checks will increase by an estimated $48 in january, rising from $1,920 to $1,968, according to the senior.