2024 Social Security Increase Cola. The latest cola is 3.2 percent for social security benefits and ssi payments. If the 2025 cola is 2.5%, it would translate to a $48 increase in the monthly benefit payment, bringing the average monthly total to $1,968.

This is an automatic update and you don’t need to. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024.