Cola Increase 2024 Prediction 2024. What's so good about a 2.5% increase or even a 3.5% one, both of which might seem puny? Social security beneficiaries will see a 3.2% boost to their benefits in 2024, the social security administration announced on thursday.

More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024. Social security recipients received a 3.2% cola in 2024, a significant decrease from the 8.7% cola in 2023, which was the largest increase in four decades.