Cola Increase 2024 Social Security Increase

Cola Increase 2024 Social Security Increase. Social security benefits will increase by 3.2 percent beginning with the december 2023. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024.

The average monthly social security benefit today is about $1,920. “social security and ssi benefits will increase in 2024, and this will help millions of people keep up with expenses,” said kilolo kijakazi, acting commissioner of social security.