Cola Increase 2024 Vatican. The average social security benefit, as of august 2023, was $1,705.79; Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024.

A 3.2% cola for 2024 would increase an average monthly retiree benefit of $1,790 by $57.30, the tscl said. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024.