Social Security Cola 2024 Prediction Chart. Each year, the social security administration adjusts the payment rate for beneficiaries to account for inflation, known as the cola. — as inflation subsides, social security beneficiaries are poised to see a lower benefit increase next year.
— a cola of 3% — much less than this year’s 8.7% increase — would raise the average monthly social security benefit from $1,789 to $1,842.70. How much is the increase: