Social Security Cola 2024 Effective Date 2024

Social Security Cola 2024 Effective Date 2024. Social security benefits will increase by 3.2 percent beginning with the december 2023 benefits, which are payable in january 2024. While social security payouts get larger each year thanks to the cola, a recent survey by tscl found 55% of retirees have more than $2,000 in monthly expenses, well.

That adds about $50 monthly to the average retirement benefit consumers. Social security benefits and supplemental security income (ssi) payments for more than 72.5 million americans will increase by 2.5% in 2025.