Social Security May 2024. That is a much smaller increase than the 8.7% cola in 2023 or the 5.9% cola in 2022, but it still falls comfortably. Number of people receiving social security, supplemental security income, or both.
Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024. If you started claiming social security before may 1997 or if get both social security and ssi benefits, you’ll get the new cola in a dec.