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Social Security 2024 Cola Increase Update. Tscl estimates that if the 2.5% cola is the actual final increase, the average social security recipient will receive an additional $48 a month, bumping the. The 2024 cola boosted benefits by $59 a month for the average retiree.

Inflation cooled considerably in 2023, but consumer prices still went up, producing a 3.2 percent cola for social security beneficiaries. How much is the increase: