2024 Social Security Cola Increase Date. The cola increase raises social security payments by 3.2%. When multiplied by 3.2% or 0.032%, the estimated cola, you can expect a monthly benefit in 2024 of about $1,880 โ a $58 increase.
The social security administration said the increased payments with the 2024 cola for supplemental security income (ssi) recipients began december 29, 2023, as january 1 is a holiday. Beginning in january 2024, checks reflecting those increases.