Rakel Caroline

Social Security Cost Of Living Increase 2024 Increase. Since 1975, the social security administration has adjusted social security payments on an annual basis to ensure benefits keep pace with inflation. The senior citizens league said wednesday that the social security cost of living adjustment, or cola, will likely be 3.2% for 2024.

That equates to an average monthly rise of about $55 for all. Increased payments to nearly 7.5 million people receiving ssi will begin on december 31, 2024.(note: