2024 Social Security Cola Increase Update

2024 Social Security Cola Increase Update. In 2024, the annual increase to social security benefits (cola) will be 3.2%. Social security recipients received a 3.2% cola in 2024, a significant decrease from the 8.7% cola in 2023, which was the largest increase in four decades.

Social security benefits will increase by 3.2 percent beginning with the december 2023. That’s because the social security.