Cola Increase 2024 Projections. That would add about $57 to monthly benefits, raising them to. The latter was reflected in an average increase of $59 per month in retiree benefits.
Inflation moderated somewhat in june. Retirees on social security receive an increase of their social security benefits each year known as the cost of living adjustment or cola.
A Cola Of 3% — Much Less Than This Year's 8.7% Increase — Would Raise The Average Monthly Social Security Benefit From $1,789 To $1,842.70.
Social security benefits will increase by 3.2 percent beginning with the december 2023 benefits, which are payable in january 2024.
According To The Social Security Administration (Ssa) , The Average Monthly Benefit As Of June 2024 Is $1,781.07.
This is the same as last month’s prediction.
Cola Increase 2024 Projections Images References :
That Will Not Happen This Year.
A cola of 3% — much less than this year's 8.7% increase — would raise the average monthly social security benefit from $1,789 to $1,842.70.