Cola Increase 2024 Value. This $10.30 rise would reduce a potential $48 cola increase to about $37.70 per month. In 2024, the cola increase for social security beneficiaries is 3.2%.

Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024. Social security benefits for millions of people will rise by an average of over $50 a month starting in january, thanks to the social security administration’s 3.2% annual cost of living.