Cost Of Living 2024 Social Security Forecast

Cost Of Living 2024 Social Security Forecast. Social security benefits are on pace to get a 2.6% cola in 2025. Keep reading for more information on the cola, how it’s calculated and what beneficiaries should expect going into 2024.

Without social security, millions of seniors would be living in poverty. It’s not going to approach 2023’s historically high cola increase of 8.7%, but the 2024 social security cost of living adjustment is expected to be 3.2%, which if it comes to fruition would raise an average monthly retiree.