2024 Cost Of Living Increase Social Security Increase

2024 Cost Of Living Increase Social Security Increase. Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct. That equates to an average monthly rise of about $55 for all.

Federal ssi payment levels will also increase by 2.5. Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning.