Cola 2024 Ssa Fact Sheet. The latest cola is 3.2 percent for social security benefits and ssi payments. President biden’s fiscal year 2025 budget lays out his plan to invest in america and the american people, lower costs for families, protect and strengthen social security, medicare, and medicaid.

Increased payments to approximately 7.5 million people receiving ssi will begin on december 29, 2023. For more than 66 million social security beneficiaries, the increase starts with payments in january 2024.