Cola Increase 2024 Social Security Benefits. The cola increase means your ssdi, ssi, or social security retirement benefits will be 3.2% higher in 2024. We will announce the next cola in october 2024.

If you don’t have an account yet, you must create one by november 14, 2023, to receive the 2024 cola notice online. Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct.