Social Security Cola 2024 Announcement July. Due to inflation, the cola is rising this year,. 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. — social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning.