2024 Cost Of Living Increase Social Security. Washington (ap) — millions of social security recipients will get a 3.2% increase in their benefits in 2024, far less than this year’s historic boost and reflecting. That equates to an average monthly rise of about $55 for all.

The cola was 3.2 percent in 2024. Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning.