Cola Increase 2024 Inflation Forecast. A cola of 3.0% would raise the current average monthly benefit of $1,787.00 by about $53.60, according to the senior citizens league. Estimated cola for 2025 current estimates suggest a 2.57% cola increase for 2025, which would add approximately $50 per.

That’s a huge drop from this year’s 8.7% cola, which pushed the average monthly check up. 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 benefit of $1,790 by $57.30.