Anticipated Cola Increase For 2024. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024. Starting in january, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 — from $1,848 to $1,907.

The latest forecast for next year’s increase is 3.2%. Starting in january, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 — from $1,848 to $1,907.