Social Security 2024 Cola Increase Projection. How much is the increase: Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024.

As inflation subsides, social security beneficiaries are poised to see a lower benefit increase next year. In january 2024, payments rose by 3.2% over 2023, according to the social security.