2024 Cola Increase For Social Security 2024. Over the past 20 years, the average social security cola has been 2.6%. On average, social security retirement benefits will increase by more than $50 per month starting in.

While social security payouts get larger each year thanks to the cola, a recent. It’s a smaller bump than the 8.7% cola increase beneficiaries received for this year, reflecting the gradual decrease.