Social Security Cola 2024 Announcement Release Date. Starting in january 2024, you'll notice the cola increase on your monthly checks. The bureau of labor statistics will release the september cpi data at 8:30 a.m.
The 2.5% cola increase will boost the average social security payment by about $50 starting in january, the agency said on. Starting in january, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 โ from $1,848 to $1,907.