Cola 2024 Increase Announcement For Retirees. Indeed, 2023’s cola increase was the largest since 1981, when it was 14.3%. The experts estimated a 2.7 per cent rise in cola next year and if this happens, then for the first time in 31 years the seniors will receive a cola of 2.7 per cent or above four years in a row.
Certain retirees, like disability, survivor, and other special provisions, have different cola entitlement rules. Cost of living adjustment (cola) letters, also known as quarterly statements, are informational statements provided to beneficiaries in receipt of a unjspf periodic benefit.