Social Security Cola 2024 Effective Date 2024

Social Security Cola 2024 Effective Date 2024. Social security benefits will increase by 3.2 percent beginning with the december 2023 benefits, which are payable in january 2024. Medora lee is a money, markets, and personal finance reporter at usa.


Social Security Cola 2024 Effective Date 2024

On the effective date, the cola is applied to the current or future benefits for all individuals aged 62 and older.  โ€” a cola of 3.5% would raise the average social security retirement benefit by $62.73 a month, based on the latest social security administration data.

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