Cola 2024 Social Security Benefits

Cola 2024 Social Security Benefits. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024. This is an automatic update and you don’t need to do anything to get it.

Inflation cooled considerably in 2023, but consumer prices still went up, producing a 3.2 percent cola for social security beneficiaries. This is significantly lower than the 2023 adjustment of 8.7%.