Social Security Cola 2024 Benefits Increase

Social Security Cola 2024 Benefits Increase. The annual adjustment, known as cola, brought seniors a 5.9 percent boost in 2022, an 8.7 percent increase in 2023 (the largest in about 40 years) and a 3.2. Other than that, all social security checks with the new 2024 cola will be distributed after the beginning of the new year.

This year’s cola amounted to an 8.7% bump for social security benefits, as well as supplemental security income benefits — the biggest increase since 1981. How the 2025 cola will change your benefit.