Social Security Cola 2024 Effective Date 2024

Social Security Cola 2024 Effective Date 2024. Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct. 12 is apt to be a big day for anyone who collects social security.

A 3 percent adjustment would boost the average social security retirement benefit — $1,839 a month in july 2023 — by about $55 a month in 2024. In 2024, the annual increase to social security benefits (cola) will be 3.2%.