Social Security Cost Of Living Increase 2024. Starting in january, social security benefit payments for 66 million beneficiaries will rise 3.2% to keep up with. Federal ssi payment levels will also increase by 2.5.

Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct. In 2025, retirement benefits will increase by about $50 per month, on average, according to the social security administration.