2024 Cost Of Living Increase Percentage Increase

2024 Cost Of Living Increase Percentage Increase. Cost of living adjustments (cola) are increases designed to offset inflation. Starting in january, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 โ€” from $1,848 to $1,907.


2024 Cost Of Living Increase Percentage Increase

Official data sheds light on what’s behind this growing anxiety. A 3 percent adjustment would boost the average social security retirement benefit โ€” $1,839 a month in july 2023 โ€” by about $55 a month in 2024.

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