Cost Of Living Increase 2024 Social Security Benefits. The acting social security commissioner says a 3.2% increase in benefits next year “will help millions of people keep up with expenses. the increase announced thursday. The us social security administration will be increasing social security benefits by 3.2% in 2024, to reflect rising inflation.
Over the last decade the cola increase has averaged about 2.6 percent. While the 2024 cola is far lower.