Has Social Security Announced 2024 Cola. Washington (ap) — millions of social security recipients will get a 3.2% increase in their benefits in 2024, far less than this year’s historic boost and reflecting. More than 71 million americans receiving social security benefits will see their checks rise by 3.2 percent next year to help them keep pace with inflation, the social security administration.

How much is the increase: The social security administration says that will raise average monthly payments by more than.