Expected Cola Increase For 2024. Most americans cheer cooling inflation, but social security recipients worry cola for 2024 could end up less than a third of 2023's 8.7% increase. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024.

Don’t expect a substantial cost of living amount (cola) increase in your social security checks in 2025. Though prices rose last month, the 2025 cost of living increase (cola) will likely be lower than the 3.2 percent increase offered to those receiving social security benefits in.