Social Security Cola 2024 Forecast November. The social security administration cannot finalize the 2024 cola without september inflation data, which is. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024.
A cola of 3.5% would raise the average social security retirement benefit by $62.73 a month, based on the latest social security administration data. This includes a recent call by biden for the 12.4% payroll tax to.