Social Security 2024 Cola Increase Projection

Social Security 2024 Cola Increase Projection. The cola raise was 5.9% in 2022 and 1.3% in 2021. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024.

Despite easing inflation, next year’s social security cost of living adjustment (cola) inched up to 3% from 2.7% last month. But all told, it’s likely that 2025’s cola will be less generous than 2024’s 3.2% increase.