Social Security Cola 2024 Increase Percentage Of Income

Social Security Cola 2024 Increase Percentage Of Income. The cola increase raises social security payments by 3.2%. In 2024, the annual increase to social security benefits (cola) will be 3.2%.

That equates to an average monthly rise of about $55 for all. Due to inflation, the cola is rising this year, so the 66 million social security beneficiaries will see a higher benefit starting in january of next year.