Social Security 2024 Cola Increase Projection. Social security benefits will increase by 3.2 percent beginning with the december 2023. A cola of 3.0% would raise the current average monthly benefit of $1,787.00 by about $53.60, according to the senior citizens league.

Social security on their minds. A cola of 3.0% would raise the current average monthly benefit of $1,787.00 by about $53.60, according to the senior citizens league.