Cost Of Living 2024 Social Security Estimated Cost

Cost Of Living 2024 Social Security Estimated Cost. Seniors on social security were thrown a major bone at the start of 2023, when their benefits rose 8.7%. The latest cola is 2.5 percent for social security benefits and ssi payments.

Since 1975, social security’s general benefit increases have been based on increases in the cost of living, as measured by the consumer price index. Seniors on social security were thrown a major bone at the start of 2023, when their benefits rose 8.7%.