Cola 2024 Increase. A 3.2% cola for 2024 would increase an average monthly retiree benefit of $1,790 by $57.30, the tscl said. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024.

The social security administration announced an 3.2% cola increase for 2024. What is the social security 2024 cola increase?