Social Security Cola 2024 Benefits Increase. Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning. The percentage change is the cola for the following year, typically announced in october.

For 2024, social security benefits and supplemental security income (ssi) payments will increase by 3.2%. Washington (ap) — millions of social security recipients will get a 3.2% increase in their benefits in 2024, far less than this year’s historic boost and reflecting.