Cost Of Living 2024 Social Security Increase Rate.  — social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct.  — with the increase, the average benefit check will increase $49, rising to $1,907 from this year's $1,858, the agency said.

The new rate goes into effect the following january.  — based on this trend, the senior citizens league (tscl) has adjusted its cola forecast to 2.6% in 2025, up from 2.4% in february and 1.75% in january.