Cola 2024 Prediction Social Security Benefits. The average social security benefit is about $1,700 a month, according to the ssa. Most americans cheer cooling inflation, but social security recipients worry cola for 2024 could end up less than a third of 2023's 8.7% increase.
In 2023, the social security administration indicated the cola would increase by 3.2% in 2024. That equates to an average monthly rise of.