2024 Social Security Cola Increase Calculator India

2024 Social Security Cola Increase Calculator India. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024. The cola was 8.7% for 2023 so their annual benefit would increase to $10,870 if someone received $10,000 in social security benefits in 2022.

The social security administration’s annual cost of living adjustment for 2024 is 3.2%, reflecting a more moderate rate of inflation than the price jumps that necessitated last year’s 8.7%. Learn what that means and how it could affect you.