Social Security Cola 2024 Forecast. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024. Social security benefits will increase by 3.2 percent beginning with the december 2023.

For 2024, the social security cola was 3.2%. At the start of 2023, seniors on social security saw their monthly benefits rise 8.7%.