Social Security Cola Increase 2024 Prediction. The latest cola is 3.2 percent for social security benefits and ssi payments. In 2023, the cola was a record 8.7% before falling to 3.2% in 2024.

While social security payouts get larger each year thanks to the cola, a recent survey by tscl found 55% of retirees have more than $2,000 in monthly expenses, well. Despite easing inflation, next year’s social security cost of living adjustment (cola) inched up to 3% from 2.7% last month.