Lydie Romonda

Social Security Cola 2024 Effective Date 2024. That equates to an average monthly rise of about $55 for all. A 3 percent adjustment would boost the average social security retirement benefit — $1,839 a month in july 2023 — by about $55 a month in 2024.

Over the last decade the cola increase has averaged about 2.6 percent. The cola was 3.2 percent in 2024.