Social Security Cost Of Living Increase 2024

Social Security Cost Of Living Increase 2024. Though it's not yet official, as the social security administration usually sets the next year's cola in october, a 2.57% hike would translate into a monthly increase of nearly $49, based on the. In 2025, the social security cola may be 2.6%, according to mary johnson, an independent social security and medicare policy analyst.

That equates to an average monthly rise of about $55 for all social security. The aarp estimated that increase at $59 per month.