Elly Noelle

Social Security Cola 2024 Increase Percentage Chart. The cola increase means your ssdi, ssi, or social security retirement benefits will be 3.2% higher 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.

A 3 percent adjustment would boost the average social security retirement benefit — $1,839 a month in july 2023 — by about $55 a month in 2024. That brought the average monthly benefit up from $1,848 to $1,907.