Social Security 2024 Cola Increase History. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024. The 2024 cola is substantially lower at 3.2%, which reflects cooling inflation.
โ the colas apply to all social security beneficiaries, including those receiving spousal benefits. This adjustment will affect social security retirement, disability, and ssi payments.