Cola Increase 2024 News Update.  — the senior citizens league increased its cola forecast for 2024 after inflation accelerated in august. Social security takes the average inflation reading from july, august and.

 — more than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024. Beginning in january 2024, checks reflecting those increases were sent to the more than 66 million.