Cola 2024 Increase Announcement Time. Social security benefits will increase by 2.5 percent beginning with the december 2024 benefits, which are payable in january 2025. The date on which the social security administration will announce the cola increase 2024 is thursday, october 12, 2023.

The acting social security commissioner says a 3.2% increase in benefits next year “will help millions of people keep up with expenses. the increase announced. Inflation was unchanged last time out (august) at 2.2%.