Social Security Cola Increase 2024 Prediction. Social security benefits could increase 3.2% in 2024. Retirees on social security will once again receive a cola in 2024 but it won’t be as big as the one in 2023.

That would add about $57 to monthly benefits, raising them to. The social security administration cannot finalize the 2024 cola without september inflation data, which is scheduled for release on oct.