2024 Social Security Cola Increase Ssi Ssdi. What the 2024 social security cola could mean for your retirement. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024.

The ssi and ssdi expansion act 2024 proposes a $200 monthly increase for social security beneficiaries and a 3.2% cola adjustment. The average monthly social security check, according to the ssa, was $1,782.74 as of july 31.