2024 Social Security Cola Increase Ssi 2024. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024. The cola increase means your ssdi, ssi, or social security retirement benefits will be 3.2% higher in 2024.

More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024. Social security beneficiaries will see a 3.2% boost to their benefits in 2024, the social security administration announced on thursday.