Social Security Cola 2024 Increase Percentage Calculator. You can also crunch the numbers yourself and calculate your new social security benefit by multiplying the percentage increase by your current monthly benefit amount. The social security administration has announced that the cola increase for 2024 will be 32%.

Social security benefits will increase by 2.5 percent beginning with the december 2024 benefits, which are. On average, social security retirement benefits will increase by more.