COLA

Social Security Benefits Increase in 2024

October 12, 2023 • By

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Last Updated: November 1, 2023

older adults standing and talkingMore than 71 million Americans will see a 3.2% increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2024. On average, Social Security retirement benefits will increase by more than $50 per month starting in January.

Federal benefit rates increase when the cost-of-living rises, as measured by the Department of Labor’s Consumer Price Index (CPI-W). The CPI-W rises when inflation increases, leading to a higher cost-of-living. This change means prices for goods and services, on average, are higher. The cost-of-living adjustment (COLA) helps to offset these costs.

We will mail COLA notices throughout the month of December to retirement, survivors, and disability beneficiaries, SSI recipients, and representative payees. But if you want to know your new benefit amount sooner, you can securely obtain your Social Security COLA notice online using the Message Center in your personal account. You can access this information in early December, prior to receiving the mailed notice. Benefit amounts will not be available before December. Since you will receive the COLA notice online or in the mail, you don’t need to contact us to get your new benefit amount.

If you prefer to access your COLA notice online and not receive the mailed notice, you can log in to your personal my Social Security account to opt out by changing your preferences in the Message Center. You can update your preferences to opt out of the mailed COLA notice, and any other notices that are available online. Did you know you can receive a text or email alert when there is a new message waiting for you? That way, you always know when we have something important for you – like your COLA notice. If you don’t have an account yet, you must create one by November 14, 2023, to receive the 2024 COLA notice online.

“Social Security and SSI benefits will increase in 2024, and this will help millions of people keep up with expenses,” said Kilolo Kijakazi, Acting Commissioner of Social Security.

January 2024 marks when other changes will happen based on the increase in the national average wage index. For example, the maximum amount of earnings subject to Social Security payroll tax in 2024 will be higher. The retirement earnings test exempt amount will also change in 2024.

Be among the first to know! Sign up for or log in to your personal my Social Security account today. Choose email or text under “Message Center Preferences” to receive courtesy notifications.

You can find more information about the 2024 COLA here.

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  1. SPIKE

    Is there supposed to be a stimulus check issued for early 2024?

    Reply
  2. Latasha d.

    My name is Natasha Dalton I am a mother a single mother with eight kids. My first son was born in 2006 of November 8. He passed away, and I only that we were homeless due to the apartments to live in. They were very condemned. They will call Riverchase Apts, the lady in the office was a thief. I signed my paperwork on time on a Friday like it was yesterday, it was Friday on 19 November and I told her I had to wait for my 30 day lease to go but and Riverchase I had gave them their payment in August 1 August or close in August. I think it was at the beginning didn’t get moved into November then come to find out when I moved in. The lady told me to come sign the paperwork the next weekend she said don’t worry about the electricity bill, but just get it cut on Monday. When I moved in it was the lady that moved that they bought the company out by freedom well because it was under Edmonton property she kept saying the grill was mine. That was a fine. I said that is not my grill then there was a couch in the backyard. She kept saying that was my cat. I said look for Laide I move that I moved in while my cat be outside. My couch is in my house. She tried to get money off of me and I had it even been in the apartment a whole 30 days telling me I owe them $2000 which came out to be 2600. I paid it like a dang food. Her name is known very well because she was working at many other other. She started working at I was approved. She told me that I was not approved because I don’t pay my rent on time and the Caucasian let her say that she said no no Mrs approved due to the fact we already have paperwork , she just didn’t want me to move in because she knows she does wrong damn River taste the ceiling fell on top of my child’s head I complain. She had nothing but all man that I think with her cousins and one was trying to write me this the second time that I almost got right in Riverchase , is she done it for my kids if it wasn’t for my daughter, my baby girl screaming Poppy poppy poppy he stopped and it was all about. I had put a order in for an air conditioner because I knew someone has stole my unit then on top of that when I had put the order in dude was staring me down but I was not paying him no damn attention when I came back I written to $850 money orders it was like they had with the mailboxes and was checking people that had stimulus checks and the people that owned the property at first were still working there and the guy that worked there was Puerto Rican and he told me you do not have to pay for that. How would you pay and you just moved in the lady told me I remember like like it was yesterday I moved in on Friday the 20th of Friday of 2001 due to the fact dead paddock which was Nick he put me out due to the fact I kept putting in reports about the washer and dryer. I have my own set of washer and dryer a big load and I said can I just bring my washer and dryer down here they told me no so I’m having to walk in the cold across the street. I had a little bitty baby , but still it was cost me more money to do all that washing and go across the street when I can stay in my house later on I didn’t have no furniture in the house in the house that I came from was super clean so before I got furniture, my son said what is that it was a bedbug and the letters say coming up here to spray these damn nasty ass bedbugs, so that was a true fact when I got my furniture they were so infested. I had got my furniture for Rose to go. I took pictures. My kids were ate up so freaking bad. It was pitiful and someone told me that’s a lawsuit , but the day when I call Section 8 about my washing and dry the next day, Nick had put me out he gave me a 72 hour notice to get the hell out of there and I’m not only that he kept walking back in for back-and-forth to my apartment and I know the set up because the girl that he was having sex with a lot multiple girls on site black girls and white he had the girl to get his son to try to pickle my son and fight my son when the time happened he was nowhere to be found there was metropolis around. I tried to get a stop we was trying to move out then the mama tried to hit my child . She kicked in my door that’s not cool that’s not fair and that’s not right not only that they did not fix the toilet we didn’t have hot water there was magnet coming out the toilet have the stuff did not work he no longer works for paddock I get I agree to get out with 30 days because I didn’t know what to do I called my caseworker. My caseworker said he’s not allowed to do that , he did wrong but by the time she checked it, it was too late a good time. I’m a good time I’m a good writer. I pay my rent on time and I was still paying my rent even though he tried to put me out he told me that he could not take my rent but guess what I did. I said the rent the door and then so they wouldn’t have no payments hanging over my head , and only that he will come by my house and flirt with me until he found out that I everywhere I go I get sick or rest and if I don’t give the people sick, they either try to put me out or write me a fine still to this day. I have not got my money back for what they stole and I’m sick and tired of this. I’m sick and tired of men harassing me and trying to get in my pants. My kids were there. My son was there and he was ready to beat him up and I said no no no no no no no please don’t do it please don’t do it please don’t do it, the whole thing happened where it was I had paid my part limit I did not have to pay rent but it was the paper was sign and date of November on the Friday the 19th of 20 I hadn’t even moved into the apartment yet she said just make sure you go to the company bill and when you do have them faxed the paper on that following Monday I hope and get that done Monday when the property was sold the lady knew she had people that moved in instead of her turning into Section 8 she did not turn it in so that was Section 8 part to pay the bill. She pocket my money and then she told me did that money right there I couldn’t get back that goes to my bill, but how can it go to my bill where I don’t pay rent Riverchase nobody on Section 8 had to pay rent. Everybody live there for free. They didn’t fix nothing. There was rats everywhere. One of my kids got bit by a rat I could not breathe. The roof fell on top of my child’s head. Nobody done anything

    Reply
  3. James

    I’m confused about the payment schedule my birthday is the20th wich means I get my entitlement in the3 week of the month but am I getting paid on the 3 week of that month or am I getting paid on the 3 week of the month before the month it’s issued for??? Will get it on the 21 of fed for march or will get it on the 21 of march???

    Reply
    • Debra P.

      I’m totally confused, everyday at least. 4-5 different stories including different amounts of money. WHY is this allowed to go on? It’s ridiculous, people don’t know what to think or do.The government allowing these half rate story writers should not be allowed to print if it is not 100%FACT l am quite sure l am not the only one that is aggregated beyond word. There has to be one intelligent person that can tell the truth, and throw all the other trash away. Frankly l am so tired of all the misconceptions and living to some very desperate people in need.

      Reply
    • Sue

      Hi, James. Thanks for reading our blog and for your questions. Because we always pay benefits a month behind, you’ll receive your February Social Security benefit in March, your March benefit in April. For more information, check out our publication, What You Need to Know When You Get Retirement or Survivors Benefits. Before May 1997, Social Security payments were always delivered on the 3rd of the month. Starting in May 1997, in addition to the 3rd of the month, we also pay benefits on the 2nd, 3rd, and 4th Wednesdays of the month. For more information, read our blog, What Day of the Month Do I Get my Social Security Payment?  You may find our Schedule of Social Security Benefits useful. We hope this helps.

      Reply
    • Dwayne

      Hey bro did u figure out when the allotment is suppose to come I am in the third month as well and was wondering too!

      Reply
  4. Dave

    The ( cpi-w )for the 3rd quarter is no where close to the real world cost of living I live in NYS the 3.2% raise is a slap in the face. I think the SSA need’s to rethink the way they come up with COLA . I wish I could turn back time and get off this ssdi and go back to work. But that’s not an option for me now

    Reply
    • Qwete

      Totally agree 100%. Not sure who’s coming up with these Cola amounts because we’re getting low balled as in everything else. They seem to often over look ones living on Social Security Disability, as if we’re not in need just as every low income families or single. What in the heck is 3.2% gonna do? Buy one loaf of bread and a gallon of milk and that just about covers that %.

      Reply
    • Sue

      Thanks for reading our blog and for your comments, Dave. By law, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) is the official measure we use to calculate the Social Security Cost-of-Living Adjustment (COLA). The CPI-W is determined by the Labor Department’s Bureau of Labor Statistics. The 2024 COLA is based on the percentage increase in the CPI-W from the third quarter of 2022 to the third quarter of 2023. For more information, check out our Cost-of-Living Adjustment (COLA) Information. We hope this helps.

      Reply
  5. Lever

    Question?? Why is it that every time we get a Cola raise, our Medicare deductible is raised as well? In reality, we are not getting the full amount of our Social Security increase and with increases in living expenses, it’s not a realistic increase, unfortunately.

    Reply
    • EllSmith

      Yes! If you are on the SNAP program (Food Stamps) your amount goes down because now you have more income. Take our example: Between the two of us, my husband and I with the 3.2% increase will get $62 more total and our SNAP benefit went down by $58. And as you stated they take more for Medicare, we pay higher deductibles for everything, etc. How in the world are seniors supposed to survive when everything else–water, electricity, food, repairs, gas, medical, high federal interest rates–has been steadily rising way above anything we receive. They are not doing us any favors…. We thought about going back to work to supplement our income, but we are allowed to make so little because, again, it puts us in a higher bracket and we would lose so much. Sure glad we worked all those years so we could suffer the wrath of our government in our “Golden Years.” Who ever made up that saying was wealthy, for sure.

      Reply
  6. Robbalee S.

    The 3.2 percent increase is not enough to cover the costs related to the current inflation rate. I am 100 percent disabled and 60 years old I can’t afford to rent anything if it wasn’t for my family I would be homeless and may still be in the future. It sad to have worked all of my life and now I am riddled with crippling genetic arthritis to name a few and the people who have never worked or paid into social security are breaking the system for free handouts this is not acceptable, why is it we need to be responsible for the people who refuse to get a job and choose drugs and alcohol and the government takes care of these people?

    Reply
  7. Terri H.

    So the $38 I’m getting is going to cover the $60 increase in food, the $40 increase in electric, and the $50 increase in rent??? And there’s more…

    Reply
  8. Brenda M.

    Will there be a 2024 stimulus check issued this month for those on social security?

    Reply
    • VOTE O.

      NOT EVER
      UNTIL MAGA TRUMPERS
      ( election deniers👎 ) GET VOTED
      🚫UT OF CONGRESS. THEY WANT TO DO AWAY WITH SSA ENTIRELY ALSO. ☠️ or at least raise the retirement age… They’d much rather give billionaires MORE generous tax cuts than do anything to help those that are struggling in any way AND DEFUND THE IRS so they can’t go after tax evaders as much. Look it up ppl !!!
      SSA / SSI WON’T EVER GET UPDATED OR EXPANDED UNTIL MAGAs GET VOTED 🚫UT !!!

      Reply
      • darwood47

        That is what Dumocrats say about the Republican Party, but if you get into it the Republicans are the only reason Social Security is still available to the American People. The Dumocrats would have already done away with Social
        Security, and a lot more. They always say what they think the people want to hear, but never follow through with their promises. We as a Country are in a very bad place today, because of Dumocrat’s. We all need to work together to get them out of office, and replace them with Republicans so we can bring America back as the world leader.

        Reply
        • Leon H.

          Idiot

          Reply
        • Beloved

          What’s sad is that you actually believe what you typed! Republicans don’t care if lower and middle class republicans starve! Then again neither does corporate Democrats! While we bicker back and forth about silly things that have no impact on us, we at the bottom allow wealthy people to create laws for us that they don’t even abide by! It’s sad!

          Reply
        • Ronee S.

          Bravo..finally someone who isn’t a woke brick..

          Reply
        • Qwete

          If people stop pointing fingers the world would be a better place. Dems & Rep both have down falls but yet nothing has gotten any better for the low income, the rich is getting richer…if all just pull together for a change and fight the system as a whole instead of being divided.

          Reply
      • T

        I’m sorry but who has been the president and who has had the senate the last 3 to 4 years? Also who had the house and senate along with the President 3 years ago? Looks like the Liberals need to go. Food, rent, and everything has gone up since they took over.

        Reply
  9. Jessica W.

    Why am I seeing posts online about SSA stimulus checks in February 2024 for $1900?

    Reply
    • Peggy

      I’m wondering the same thing Jessica! It says we should be getting a check $1657. On Wednesday February 21,2024. I don’t show anything like that in my statement. It would be VERY NICE IF THAT WAS TRUE. Instead of giving the illegals handouts!

      Reply
    • Qwete

      I’m seeing the same, but yet I don’t believe everything I read. I did much research and seems it’s targeted towards senior citizens age 65 & older that’s low income, veterans etc…the amount is up to $5,000
      Unfortunately we’re not that fortunate to gain a extra dime from Social Security..

      Reply

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