Social Security 2024 Cola Increase Date. It's a smaller bump than the 8.7% cola increase beneficiaries received for this year, reflecting the. The social security administration announced on october 12, 2023, that benefits will increase by 3.2% in 2024, a far more modest.

The senior citizens league ( tscl ), one of the nation’s largest nonpartisan seniors groups, had previously estimated that the 2024 cola would be 3.2% based on the rise. The social security administration announced its annual cost of living adjustment for 2024.