Cola Increase 2024 Ssi Increase. More than 70 million americans are set to receive a 3.2% increase on their social security benefits and supplemental security income (ssi) in 2024. The senior citizens league said wednesday that the social security cost of living adjustment, or cola, will likely be 3.2% for 2024.

In 2024, the annual increase to social security benefits (cola) will be 3.2%. Social security benefits will increase by 3.2 percent beginning with the december 2023 benefits, which are payable in january 2024.