Expected Cola Increase 2024. The 2024 cola is expected to be around 3%, based on two social security experts’ predictions. A 3.2% cola for 2024 would increase an average monthly retiree benefit of $1,790 by $57.30, the tscl said.

How much is the increase: More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in.