Social Security 2024 Cola Increase Factors.  — the 2024 cola is good news. The awi is used to index an individual's earnings through age 60 in the benefit calculation formula, and the cola is used to increase benefits annually.

Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024. This would be below the 2024.