Cola 2024 Increase Announcement For Retirees. Social security has announced that they will be granting a cost of living increase of 3.2% for 2024. The increase is much lower than the.

 — the 2024 cola was announced on october 12, 2023.  — the acting social security commissioner says a 3.2% increase in benefits next year “will help millions of people keep up with expenses. the increase announced.