Social Security 2024 Cola Increase Projection. The 2024 cola increases the average monthly benefit by about $58, taking the typical retiree’s check to $1,907. Social security's 2025 cola will be announced in less than 2 months.

Here’s what you should know. Despite easing inflation, next year’s social security cost of living adjustment (cola) inched up to 3% from 2.7% last month.