Social Security 2024 Cola Estimate Formula. If you have a personal my social security account, you can get an estimate of your future retirement benefits and see the effects of different retirement age scenarios. 12 rows the awi is used to index an individual's earnings through age 60 in the benefit.

In 2023, the social security cola was 8.7%. In 2024, the annual increase to social security benefits (cola) will be 3.2%.