What Is The Cola Increase For 2024. The latest cola is 3.2 percent for social security benefits and ssi payments. Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning.

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. Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning.