2024 Cola Increase Estimate. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024. The social security administration announced an 3.2% cola increase for 2024.
As inflation subsides, social security beneficiaries are poised to see a lower benefit increase next year. Alicia munnell, who serves as director for the center for retirement research at.