2024 Social Security Cola Increase Update In India. Starting in january, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 โ from $1,848 to $1,907. Increased payments to approximately 7.5 million ssi recipients will begin on december 29, 2023.
The cola increase means your ssdi, ssi, or social security retirement benefits will be 3.2%. It’s a smaller bump than the 8.7% cola increase beneficiaries received for this year,.