Ssa Cost Of Living Increase 2024 Calculator. That equates to an average monthly rise of about $55 for all social security. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024.

Following a decade of mostly anemic colas, beneficiaries enjoyed raises of 5.9% in 2022, 8.7% in 2023, and 3.2% in 2024. With inflation easing throughout 2024, the social security cost of living adjustment came in lower than last year’s 3.2% bump.