Ss Cost Of Living For 2024. Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning. The fastest uptick in the prevailing inflation rate in four decades led to a 5.9% cola in 2022, 8.7% cola in 2023, and 3.2% cola in 2024.
For all recipients โ including spouses, children and disabled workers โ. Social security benefits are on pace for a 3% cola in 2024.