Social Security Cola 2024 Effective Date Uk. The increase will begin with benefits that social security beneficiaries receive in january 2024. A cola of 3.5% would raise the average social security retirement benefit by $62.73 a month, based on the latest social security administration data.
Here are some ideas to help you decide what to do with the extra money from the social security cola in 2024: Increased payments to approximately 7.5 million ssi recipients will begin on december 29, 2023.