Projected 2024 Social Security Cola Increase. On average, social security retirement benefits will increase by more. A 2.5 percent cola would increase the average benefit for a retired worker — about $1,920 a month in august 2024 — by $48 a month starting in january 2025.

The 2025 cola increase will raise social security payments, helping beneficiaries keep up with. Most americans cheer cooling inflation, but social security recipients worry cola for 2024 could end up less than a third of 2023’s 8.7% increase.