Ssa 2024 Cola Increase Projection

Ssa 2024 Cola Increase Projection. 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. Social security administration (ssa) bases its cola each year on average annual increases in the consumer price index for urban wage earners and clerical.

That’s a significantly lower raise than the 3.2% cola seniors on social security received at the start of 2024. Most americans cheer cooling inflation, but social security recipients worry cola for 2024 could end up less than a third of 2023’s 8.7% increase.