Social Security Increase 2024 Increase. The cola increase raises social security payments by 3.2%. Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct.

Inflation cooled considerably in 2023, but consumer prices still went up, producing a 3.2 percent cola for social security beneficiaries. Social security beneficiaries will see a 3.2% boost to their benefits in 2024, the social security administration announced on thursday.