Social Security Cola 2024. This adjustment will affect social security retirement, disability, and ssi payments. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024.

Increased payments to approximately 7.5 million ssi recipients will begin on december 29, 2023. The average social security benefit is about $1,700 a month, according to the ssa.