Cola Increase 2024 News. A cola of 3.0% would raise the current average monthly benefit of $1,787.00 by about $53.60, according to the senior citizens league. In a quirk of the calendar, this vulnerable population is likely to miss.
Social security cola rates are expected to rise even more in 2024 after the latest august cpi data was released. The cola is designed to help seniors keep up with rising prices.