Cost Of Living Adjustment Increase 2024. Starting in january, social security benefit payments for 66 million beneficiaries will rise 3.2% to keep up with the cost of living, the social security administration said thursday. Federal ssi payment levels will also increase by 2.5 percent effective for payments made for january 2025.

That equates to an average monthly rise of about $55 for all. We will mail cola notices throughout the month of december to retirement, survivors, and disability.