2024 Social Security Cola Raise Calculator. Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct. Social security benefits will increase in 2024.

Benefits go up if there is a measurable increase (at least 0.1 percent) in this price index from year to year. The latest cola is 2.5 percent for social security benefits and ssi payments.