Cola 2024 Social Security Increase. In january 2024, payments rose by 3.2% over 2023, according to the. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024.

The cola increase means your ssdi, ssi, or social security retirement benefits will be 3.2% higher in 2024. For 2024, the social security cola is 3.2%.