Social Security Cola 2024 Amount. The first cola this individual could receive is the one effective for december 2024.  — in 2023, the social security administration indicated the cola would increase by 3.2% in 2024.

How much more money will social security beneficiaries receive in 2024? More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024.