Social Security 2024 Cola Increase Calculator. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024. This is an automatic update and you don’t need to.

The social security administration’s annual cost of living adjustment for 2024 is 3.2%, reflecting a more moderate rate of inflation than the price jumps that necessitated last year’s 8.7%. Beginning in january 2024, checks reflecting those increases.