Social Security 2024 Cola Increase Update Drivers. Social security cola has only increased by 12.9% in total. A cola boost of 3.2% would amount to a little more than $57 extra each month for someone who is receiving $1,790 a month, the average social security monthly retiree.
The social security administration has officially said what next yearโs cola will be. Social security benefits will increase by 2.5 percent beginning with the december 2024 benefits, which are.
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