2024 Social Security Cola Increase Update Today

2024 Social Security Cola Increase Update Today. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024. On average, social security retirement benefits will increase by more.

While the 2024 cola adjusted social security checks based on inflation, not everyone believes the payment update adequately reflects the price hikes seniors are seeing on. Starting in january, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 — from $1,848 to $1,907.