Cola Increase 2024 Projections April. The senior citizens league said wednesday that the social security cost of living adjustment, or cola, will likely be 3.2% for 2024. For the average retiree who got a monthly check of $1,827 this year, the bump would mean.

The latest cola is 3.2 percent for social security benefits and ssi payments. It’s a smaller bump than the 8.7% cola increase beneficiaries received for this year,.