Social Security Cola 2024 Announcement. More than 71 million americans will see a 3.2% increase to their social security and supplemental security income benefits in 2024, the social security administration announced on. The social security administration says that will raise average monthly payments by more than $50.

The social security administration says that will raise average monthly payments by more than $50. Social security benefits and supplemental security income (ssi) payments for more than 72.5 million americans will increase by 2.5% in 2025.