Ss Cost Of Living Increase 2024

Ss Cost Of Living Increase 2024. Since 1975, social security's general benefit increases have been based on increases in the cost of living, as measured by the consumer price index. That equates to an average monthly rise of about $55 for all social security.

The social security administration announced an 3.2% cola increase for 2024. Since 1975, social security’s general benefit increases have been based on increases in the cost of living, as measured by the consumer price index.