Social Security Cola Increase 2024. The acting social security commissioner says a 3.2% increase in benefits next year “will help millions of people keep up with expenses. the increase announced thursday. Seniors on social security were thrown a major bone at the start of 2023, when their benefits rose 8.7%.
The increase for the year 2024 was pegged at 3.2%, while the 2025 adjustment announced in october, will be 2.5% and applied to payments made for january 2025, and the. The social security administration announced thursday the 2025 cola will be 2.5%, down from 2024’s 3.2% increase.
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