Cola 2024 Increase Announcement Date. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024. A 3.2% cola for 2024 would increase an average monthly retiree benefit of $1,790 by $57.30, the tscl said.

The latest cola is 3.2 percent for social security benefits and ssi payments. Other analysts, including preston caldwell, a senior u.s.