Social Security Increase 2024 Update Today. No matter what 2024's social security cola ends up being, seniors should be aware that a hike in medicare part b premiums has the potential to whittle that raise. The latest cola is 3.2 percent for social security benefits and ssi payments.
Social security beneficiaries will see a 3.2% boost to their benefits in 2024, the social security administration announced on thursday. That could mean the payment increases will start in october, but it’s still uncertain.