Social Security 2024 Increase Updates. The social security administration is expected to announce the 2024 social security cola this october, anticipated by some groups to hit 3 percent and raise the. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024.
For 2024, social security benefits and supplemental security income (ssi) payments will increase by 3.2%. Many americans rely on their social security benefit to help fund their retirement.