Cost Of Living For Ssa 2024. Increased payments to approximately 7.5 million ssi recipients will begin on december 29, 2023. Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct.
The latest cola is 3.2 percent for social security benefits and ssi payments. The social security administration’s cost of living adjustment, or cola, is based on inflation data from the consumer price index.