Social Security Cola Increase 2024 Amount. The cola increase means your ssdi, ssi, or social security retirement benefits will be 3.2% higher in 2024. The social security administration’s annual cost of living adjustment for 2024 is 3.2%, reflecting a more moderate rate of inflation than the price jumps that necessitated last year’s 8.7% raise.

Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct. In january 2024, payments rose by 3.2% over 2023, according to the social security.