What Is The Forecasted Cola Increase For 2024. A 3.2% cola would mean about an extra $54.50 each month. A 3.2% increase would be significantly higher than the 2.6% average increase beneficiaries have received over the past 20 years.
Retirees on social security will once again receive a cola in 2025 but it won’t be as big as the one in 2024 because inflation has. There’s a chance 2024’s cola will end up a bit higher or lower than 3.2%, depending on how things shake out in september.
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