Cola For 2024 Social Security Forecasting. Most americans cheer cooling inflation, but social security recipients worry cola for 2024 could end up less than a third of 2023's 8.7% increase. Using august inflation data, the senior citizens league has estimated the annual raise for social security recipients will be 3.2% for 2024.

There’s a chance 2024’s cola will end up a bit higher or lower than 3.2%, depending on how things shake out in september. Based on current estimates as of september.