Estimated Cola Increase For 2024. In 2023, the social security cola was. Beginning in january 2024, checks reflecting those increases were sent to the more than 66 million.

The 2024 cola boosted benefits by $59 a month for the average retiree. The senior citizens league estimates the 2025 cola will land around 2.5% due to a decline in the consumer price data from 2.9% to 2.5%.