Social Security Checks to Increase in 2024

Social Security COLA Increase: How Much Monthly Checks Will Rise in 2024 Due to inflation, Social Security checks will get bigger in January. Katie Teague Sept. 14, 2023 4:52 p.m. PT While inflation may have cooled in 2023, prices have risen plenty — enough of a hike that Social Security recipients will see a significant boost in their checks starting in January. The latest inflation numbers from August indicate that the cost-of-living-adjustment (or COLA for short) for Social Security will be 3.2%, per the Senior Citizens League. Each year, the Social Security Administration determines the cost of living adjustment for Social Security payments. The COLA is based on the percentage increase in…