Social Security 2024 Cola Increase News. Here are some ideas to help you decide what to do with the extra money from the social security cola in 2024: Social security recipients are on track to receive the smallest cola increase since the pandemic began.

The cola is designed to help social security keep up with inflation, and as rising costs continue to take a bite out of retirees’ budgets, any extra benefits can go a. Cola for 2024 is 3.2%.