Cola Price Increase 2024

Cola Price Increase 2024. An individual's annual benefit would increase to $10,320 in 2024 if they received $10,000 in social security benefits in 2023. In 2023, the social security administration indicated the cola would increase by 3.2% in 2024.

The average beneficiary will see a $54 increase in their benefit amount. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024.