Ss Cost Of Living Increase 2024 Increase. The additional 3.2% bump led to an increase of $37 on the 2023 payout, making a. This year's increase is much smaller than last.

Social security benefits will increase by 2.5 percent beginning with the december 2024. It’s a smaller bump than the 8.7% cola increase beneficiaries received for this year, reflecting the gradual decrease.