Potential Cola Increase For 2024. In 2023, it was 8.7%. Increased payments to approximately 7.5 million ssi recipients will begin on december 29, 2023.
3.2% is better than many earlier inflation adjustments. This upcoming increase is meant to aid retirees.
What Is The Average Social Security Check?
When social security recipients will start getting 2024 payments.
At 3.2%, The Social Security Cola For 2024 Is Significantly Less Than Half Than The 8.7% Adjustment Beneficiaries Received In 2023.
Q2 revenue of $12.31 bln vs est.
Potential Cola Increase For 2024 Images References :
Here’s What The Research Suggests.
If there is an increase, it’s rounded to the nearest tenth of a percent.
That Same Increase Is Applied To Monthly Social Security Payments.
“the [federal reserve’s] goal is for inflation to be 2% or lower, and therefore, the cola increases by social security would be 2% or lower,” says randall holcombe, a certified financial.
