Social Security 2024 Cola Increase Projection. Though a 2.5% hike would be less of an increase than the 3.2% received in 2024, it falls roughly within the bounds of the historical norm, which has averaged at about 2.6% over the past two decades. Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct.
A recent estimate by the senior citizens league puts the 2025 social security cola at an increase of 2.63% over 2024. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024.
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