Social Security Cola 2024 Forecast India. There's a chance 2024's cola will end up a bit higher or lower than 3.2%, depending on how things shake out in september. The experts estimated a 2.7 per cent rise in cola next year and if this happens, then for the first time in 31 years the seniors will receive a cola of 2.7 per cent or above four.

The social security administration cannot finalize the 2024 cola without september inflation data, which is scheduled for release on oct. A cola of 3% for 2024 would raise an average monthly benefit of $1,789 by $ 53.70—well down from this year’s average increase of $146 a month after this year’s historic 8.7% cola—the highest in.