Social Security Cost Of Living Increase 2024. Starting in january, social security benefit payments for 66 million beneficiaries will rise 3.2% to keep up with the cost of living, the social security administration said thursday. Social security recipients received a 3.2% increase in their benefits in 2024, and some retirees are concerned that this year's increase is not big enough to meet their needs.

The cola was 3.2 percent in 2024. How much will recipients get in 2024?