Cost Of Living 2024 Social Security Increase Chart. Social security is not sustainable over the long term at current benefit and tax rates. The latest cola is 2.5 percent for social security benefits and ssi payments.
Itโs a smaller bump than the 8.7% cola increase beneficiaries received for this year, reflecting the. Starting in january, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 โ from $1,848 to $1,907.