Social Security 2024 Cost Of Living Increase. Social security benefits will increase by 3.2 percent beginning with the december 2023 benefits, which are. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024.
Millions of social security recipients will get a 3.2% increase in their benefits in 2024, far less than this year’s historic boost and reflecting moderating consumer prices. Social security beneficiaries will see a 3.2% boost to their benefits in 2024, the social security administration announced on thursday.