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- In December 2024, Social Security COLA notices will be available online to most beneficiaries in the Message Center of their my Social Security account. This year, for the first time, Social Security beneficiaries will receive a newly designed and improved COLA notice that makes it easier for customers to find the information they need most.
www.ssa.gov/cola/
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Your COLA Notice. In December 2024, Social Security COLA notices will be available online to most beneficiaries in the Message Center of their my Social Security account.
- Social Security Benefits Increase in 2024 | SSA
But if you want to know your new benefit amount sooner, you...
- Social Security Announces 2.5 Percent Benefit Increase for ...
Individuals who have a personal my Social Security account...
- Update: 2024 Cost of Living Adjustment | Choose Work ...
In December 2023, Social Security COLA notices will be...
- Social Security Benefits Increase in 2024 | SSA
However, you may not need to wait for your mailed notice to learn your new benefit amount for 2024: you can view your COLA notice online with your personal my Social Security account starting in early December.
Oct 12, 2023 · But if you want to know your new benefit amount sooner, you can securely obtain your Social Security COLA notice online using the Message Center in your personal account. You can access this information in early December, prior to receiving the mailed notice.
- Overview
- COLA 2024: Social Security payment dates
- How much will I get in my check?
- How does 2024's COLA compare with prior years?
Former Maryland Gov. Martin O'Malley confirmed as leader of Social Security Administration 00:25
The nation's 72 million Social Security recipients are just days away from getting a boost to their monthly benefits.
The 2024 cost-of-living adjustment, or COLA, has been set for a 3.2% bump — the smallest increase in three years. That's because the Social Security Administration bases its annual adjustment on the inflation rate, which has been rapidly cooling.
By comparison, recipients in 2023 received a historic 8.7% increase to keep up with the hottest inflation in four decades.
Even though the new COLA increase will take effect with the December benefits, those payments will reach most recipients in January, according to the Social Security Administration. With the increase, the average benefit check will increase $49, rising to $1,907 from this year's $1,858, the agency said.
Here's when Social Security beneficiaries will see the higher amounts in their monthly checks.
The new COLA will go into effect in January for most Social Security recipients, with the notable exception of Supplemental Security Income (SSI) recipients, who will receive their payments early this year, according to the agency's calendar.
•Dec. 29, 2023: The benefits hike for the nation's 7.5 million SSI recipients will begin on this day. Typically, SSI payments are issued on the first of each month, but because January 1 is a holiday, recipients will get their payments on the Friday before January 1.
•Jan. 3, 2024: If you started claiming Social Security before May 1997 or if get both Social Security and SSI benefits, you'll get the new COLA in a Dec. 29, 2023 check and your Social Security payment on January 3.
•Jan. 10, 2024: If your birthday falls between the 1st to the the 10th day of your birth month, this is when you'll get your first benefit check with the new COLA. For instance, if your birthday is June 1, you'll get paid on this day.
•Jan. 17, 2024: If your birthday falls between the 11th to 20th day of your birth month, you'll get your higher payment on this day.
•Jan. 24, 2024: If your birthday falls between the 21st to 31st of your birth month, your benefit check will reflect the new COLA on this day.
That depends on your current benefit level, which is based on your earnings while working and other factors, such as your age when you first claimed Social Security. Nevertheless, the overall boost should be 3.2% higher than your December check.
However, Social Security began sending letters to recipients in early December to alert them of their new benefit amount. People who have a mySocialSecurity account can log into the site to view their letter online.
2024's benefit increase is higher than most years, but still lower than what seniors received in 2022 and 2023. Here are COLAs over the last decade:
•January 2014: 1.5%
•January 2015: 1.7%
•January 2016: 0.0%
•January 2017: 0.3%
•January 2018: 2.0%
Oct 10, 2024 · Individuals who have a personal my Social Security account can view their COLA notice online, which is secure, easy, and faster than receiving a letter in the mail. People can set up text or email alerts when there is a new message–such as their COLA notice–waiting for them in my Social Security.
Oct 30, 2023 · In December 2023, Social Security COLA notices will be available online to most beneficiaries in the message center of their my Social Security account. Remember, you'll still receive your notice in the mail, but you can also choose to receive COLA notices online through your my Social Security account.
The latest COLA is 2.5 percent for Social Security benefits and SSI payments. Social Security benefits will increase by 2.5 percent beginning with the December 2024 benefits, which are payable in January 2025.
