Social Security Cola 2024 Benefits Increase. The cola increase means your ssdi, ssi, or social security retirement benefits will be 3.2% higher in 2024. The social security administration cannot finalize the 2024 cola without september inflation data, which is.

Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning. The cola increase raises social security payments by 3.2%.