The latest cola is 3.2 percent for social security benefits and ssi payments. In 2023, it was 8.7%.
Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024. That’s less than half of the previous year’s cola increase.
In 2023, It Was 8.7%.
A 3 percent adjustment would boost the average social security retirement benefit — $1,839 a month in july 2023 — by about $55 a month in 2024.
The Latest Forecast For Next Year’s Increase Is 3.2%.
That would add about $57 to.
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The Current Projected 2.57% Increase Is Lower Than The 2.66% Increase The Group Had Forecasted Last Month And Would Be The Lowest Since 2020, When Monthly.
In 2023, it was 8.7%.
What Is The 2024 Social Security Cola Increase, And Does It Affect Future Retirees?
The answer depends on when you start claiming benefits.