Cost Of Living 2024 Social Security Estimate. Starting in january, social security benefit payments for 66 million beneficiaries will rise 3.2% to keep up with the cost of living, the social security administration said thursday. The social security cola could be 2.7% in 2024 based on the latest consumer price index data, according to the senior citizens league, a nonpartisan senior group.
Itโs not going to approach 2023โs historically high cola increase of 8.7%, but the 2024 social security cost of living adjustment is expected to be 3.2%, which if it comes to. Social security beneficiaries will see a lower increase to their monthly benefits in 2024 following a record increase this year.
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