2024 Cola Increase Estimated Salary. The latest cola is 3.2 percent for social security benefits and ssi payments. Last year, the cola was 8.7%— the highest in more than 40.

These estimates are derived from the intermediate assumptions in the 2024 trustees report. The annual cost of living adjustment (cola) by the social security administration (ssa) to social security payments for 2025 is expected to be 2.5%, the smallest cola increase.