Cost Of Living Increase 2024 Ssa. Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning. Over the last decade the cola increase has averaged about 2.6 percent.
Starting in january, social security benefit payments for 66 million beneficiaries will rise 3.2% to keep up with the cost of living, the social security administration said thursday. Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning.