Social Security Cost Of Living Increase 2024 Calculator. On average, social security retirement benefits will increase by more. It updates the 2024.1 version by updating the projected benefit increases and average wage.

Current estimates suggest a 2.57% cola increase for 2025, which would add approximately $50 per month to benefits, according to the detroit free. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024.