Social Security Cola 2024 Adjustment. This followed a 5.9% increase in 2022, which was the highest in four decades at the time it. In 2023, the cola increased by 8.7%, its largest increase since 1981.

Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024. The roughly 70 million americans who receive social security will see another significant increase to their benefits next year: