The Social Security Administration (SSA) has announced that there will be a 3.2% benefit increase for 2024. This 3.2% cost-of-living (COLA) adjustment will begin with payments received in January 2024 for Social Security Disability Insurance (SSDI) beneficiaries and Supplemental Security Income (SSI) recipients.
If you are currently receiving SSDI benefits, you can expect that the payment you receive in January will be 3.2% higher than your 2023 monthly payment. If you receive SSI, the maximum monthly benefit will increase from $914 per month in 2023 to $943 per month in 2024.
