Estimated Cola For Social Security 2024. Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct. Beginning in january 2024, checks reflecting those increases.

The social security cola for 2023 was 8.7%. A 2.5 percent increase would raise the average social security payment for retired workers from $1,920.48 (as of august 2024) to $1,968.49 in 2025, an increase of.