Cola 2024 Increase Announcement For Retirees. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024. What could cola increase be in 2025?

The acting social security commissioner says a 3.2% increase in benefits next year “will help millions of people keep up with expenses. the increase announced. Eligible retirees, beneficiaries, and survivors who receive a monthly benefit will receive the cola in their may 1, 2024, retirement check.