2024 Social Security Increase Calculator. The social security program’s annual cost of living adjustment, known as cola, brought seniors a 5.9 percent boost in 2022, an 8.7 percent increase in 2023. A 3 percent adjustment would boost the average social security retirement benefit — $1,839 a month in july 2023 — by about $55 a month in 2024.
Use aarp’s social security calculator to find out when to apply and how much you’ll get. Social security benefits increased by 3.2% in 2024.