2024 Cost Of Living Increase Social Security Impact

2024 Cost Of Living Increase Social Security Impact. Starting in january, social security benefit payments for 66 million beneficiaries will rise 3.2% to keep up with the cost of living, the social security administration said thursday. The ssa is expected to announce the 2024 social security cola in mid.

Social security benefits will increase by 2.5 percent beginning with the december 2024 benefits, which are payable in january 2025. In 2024, the cola increase for social security beneficiaries is 3.2%.