Social Security 2024 Cola Increase News. Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning. Social security cola rates are expected to rise even more in 2024 after the latest august cpi data was released.
Social security beneficiaries will see a lower increase to their monthly benefits in 2024 following a record increase this year. In 2024, beneficiaries can expect to receive a 3.2% cola, which will amount to an extra $59 per month for the average retiree, according.
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