Social Security Cost Of Living Increase 2024 Increase. Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct. Federal ssi payment levels will also.

Starting in january, social security benefit payments for 66 million beneficiaries will rise 3.2% to keep up. The senior citizens league estimates social security benefits will increase 2.5% in 2025, the smallest cola for retired workers since 2021.