Social Security 2024 Increase. In 2025, the social security cola may be 2.6%, according to mary johnson, an independent social security and medicare policy analyst. That adds about $50 monthly to the average retirement benefit consumers will.
The increase will take effect in january 2024 for the more than 66 million social security beneficiaries. For retired couples where both partners receive benefits, the average payment is expected to increase from $2,939 to approximately $3,033.