2024 Social Security Cola Increase Update In India. In october 2023, the social security administration announced it would implement a 3.2% cost of living adjustment (cola), effective january 2024. The 2025 social security cola increase will affect various beneficiary groups in distinct ways, providing critical financial adjustments that can help many navigate rising living.
“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. Thank you, satya, and good afternoon everyone.