Social Security Increase 2024 News Update. The cola for 2024 is 3.2%. While the 2024 cola adjusted social security checks based on inflation, not everyone believes the payment update adequately reflects the price hikes seniors are seeing on healthcare and.

Social security benefits will increase by 3.2 percent beginning with the december 2023 benefits, which are payable in january 2024. The new bill would seek to lessen the strain on people collecting social security by boosting each recipient’s monthly check by $200 — an annual increase of.