Cola 2024 Increase Announcement As Of Today. Social security cola rates are expected to rise even more in 2024 after the latest august cpi data was released. Current projections put it around 2.5%,.

The cost of living adjustment (cola) increase for 2024 has just been announced. Effective july 1, 2024, the cola rate is 2.00% for those with a retirement date on or before july 1, 2023.