Cola 2024 Increase Announcement. Indeed, 2023’s cola increase was the largest since 1981, when it was 14.3%. However, the three most recent colas —5.9% in 2022, 8.7% in 2023, and 3.2% in 2024—have notably increased social security payments.
— the date on which the social security administration will announce the cola increase 2024 is thursday, october 12, 2023. Additionally, the 2024 cola is still.