2024 Cola Social Security Increase Announcement. Social security benefits will increase by 2.5 percent beginning with the december 2024. Helpful ssi changes reducing customer burden take effect.

A 3 percent adjustment would boost the average social security retirement benefit — $1,839 a month in july 2023 — by about $55 a month in 2024. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024, the social security administration.