Cola Increase 2024 Watch

Cola Increase 2024 Watch. Beginning in january 2024, checks reflecting those increases were. Social security benefits will increase by 3.2 percent beginning with the december 2023.

It’s not going to approach 2023’s historically high cola increase of 8.7%, but the 2024 social security cost of living adjustment is expected to be 3.2%, which if it comes to fruition would raise an average. It’s the smallest figure in three years, but it’s just the fifth time in 20 years the adjustment has reached 3% or higher.