Social Security Cola 2024 Calculator With Dependents. Benefits go up if there is a measurable increase (at least 0.1 percent) in this price index from year to year. Seniors on social security were thrown a major bone at the start of 2023, when their benefits rose 8.7%.
The latest cola is 3.2 percent for social security benefits and ssi payments. The social security program’s annual cost of living adjustment, known as cola, brought seniors a 5.9 percent boost in 2022, an 8.7 percent increase in 2023 (the.