2024 Cola Increase. Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning. More than 71 million americans will see a 3.2% increase to their social security and supplemental security income benefits in 2024, the social security.
Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024. Starting in january, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 โ from $1,848 to $1,907.