Social Security Cola 2024 Announcement Synonym. That 3.2% cola is well above the 2.6%. That brought the average monthly benefit up from $1,848 to $1,907.

The announcement of the increase in monthly social security benefits is expected in less than two weeks — a number that will allow seniors and those getting. This followed a 5.9% increase in 2022, which was the highest in four decades at the time it.