Cola 2024 Increase Announcement For Retirees. “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. For the year 2024, annuitants who retired under csrs will receive 3.2 percent increase and those who retired under fers will receive a 2.2 percent increase.

Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning. 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 thursday is far less than this year’s historic boost and reflects moderating consumer prices.