2024 Cola Increase Ssa Price. Social security benefits will increase by 3.2 percent beginning with the december 2023 benefits, which are payable in january 2024. How much is the increase:

In 2023, the social security administration indicated the cola would increase by 3.2% in 2024. Starting in january, the average monthly social security retirement benefit will rise by $59, from approximately $1,848 to $1,907, according to the ssa.