Social Security Cola 2024 Adjustment 2024. While the 2024 cola adjusted social security checks based on inflation, not everyone believes the payment update adequately reflects the price hikes seniors are seeing on. The social security cola for 2023 was 8.7%.
A 3 percent adjustment would boost the average social security retirement benefit โ $1,839 a month in july 2023 โ by about $55 a month in 2024. That equates to an average monthly rise of.
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