Social Security Cola 2024 Estimate Increase. The annual adjustment, known as cola, brought seniors a 5.9 percent boost in 2022, an 8.7 percent increase in 2023 (the largest in about 40 years) and a 3.2. At this point, 2024 cola estimates are generally coming in within the 3% to 3.5% range.

How much will my social security payment be with the 2024 cola increase? Historically speaking, that’s actually not so low for a cola.