Taryn Francyne

How Much Is Cola Increase For 2024. In 2022, 2023, and 2024, social security checks increased by 5.9%, 8.7%, and 3.2%, respectively. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024.

That’s less than half of the previous year’s cola increase. The average social security benefit, as of august 2023, was $1,705.79;