Cola Increase 2024 Inflation. The average monthly retirement benefit will increase from $1,848 to $1,907, and the average benefit for disabled workers will go up from $1,489 to $1,537, according to the ssa. Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning.
Because inflation has been cooling pretty steadily this year, there’s a good chance that 2025’s social security cola won’t be as high as 2024’s 3.2% raise. That’s down from this year’s 3.2% increase and the 8.7% jump in 2023.