Social Security Cola Increase 2024

Social Security Cola Increase 2024. Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct. The senior citizens league said wednesday that the social security cost of living adjustment, or cola, will likely be 3.2% for 2024.

The agency said thursday that on average, monthly payments will increase by about $58. In 2024, the annual increase to social security benefits (cola) will be 3.2%.