Expected Social Security Cola For 2024. In 2023, the social security administration indicated the cola would increase by 3.2% in 2024. Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct.

According to the 2024 social security trustees report, the intermediate case calls for a 2.6% cola for this year (the increase that will start with january 2025. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024.