Social Security Cola 2024 Estimated Payment. That adds about $50 monthly to the. Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct.

A 3.2% increase in the average social security check—about $1,706 in august 2023, the latest data available—would raise that monthly payment to $1,761, a. 7 rows the cola for december 2023 is 3.2 percent and is first payable in january 2024.