Ss Cost Of Living Increase 2024 March. A 3.2% cola for 2024 would increase an average monthly retiree benefit of $1,790 by $57.30, the tscl said. The cost of living adjustment rose by 3.2 percent for 2024, the social security administration announced today.

The social security administration says that will raise average monthly payments by more than $50. On average, social security retirement benefits will increase by more.