Social Security Increase 2024 Estimate. Discover how the social security cola impacts retirees' purchasing power and its. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024.

Social security benefits will increase by 3.2 percent beginning with the december 2023.  — the estimated 2024 cola is significantly lower than the 8.7% increase that beneficiaries saw in 2023.