Estimated Cost Of Living Increase For 2024. Starting in january, social security benefit payments for 66 million beneficiaries will rise 3.2% to keep up with the cost of living, the social security administration said thursday. The social security cola could be 2.7% in 2024 based on the latest consumer price index data, according to the senior citizens league, a nonpartisan.
How much is the increase: Social security beneficiaries will see a 3.2% boost to their benefits in 2024, the social security administration announced on thursday.
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