Social Security Increase 2024 Estimate. That would be substantially lower than the record 8.7% cola for social security. In january 2024, payments rose by 3.2% over 2023, according to the social security administration.
Estimated cola for 2025 current estimates suggest a 2.57% cola increase for 2025, which would add. It’s not going to approach 2023’s historically high cola increase of 8.7%, but the 2024 social security cost of living adjustment is expected to be 3.2%, which if it comes to fruition would raise an average.