Social Security Cola 2024 Estimate Increase Or Decrease. The social security administration (ssa) is expected to announce the 2024 cola rate on october 12, predicted by analysts to be 3 percent based on the consumer price index for urban wage earners. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024.

1) how is the annual increase in social security calculated? There were about 67 million beneficiaries at the end of the calendar year.