Social Security Increase 2024 Announcement July. In advance of the announcement, analysts predicted that the increase would be about 2.5% for 2025, smaller than increases the previous two years. Over the last decade the cola increase has averaged about 2.6 percent.

The acting social security commissioner says a 3.2% increase in benefits next year “will help millions of people keep up with expenses. the increase announced. Learn how the cola is calculated,.