Social Security Cpi Increase 2024. Social security cola rates are expected to rise even more in 2024 after the latest august cpi data was released. Once that information comes in, the social security administration (ssa) will be able to calculate a cola for 2024.
Social security benefits will increase by 3.2 percent beginning with the december 2023. The social security administration will use the same process in late 2023 to derive 2024’s increase.