Cola 2024 Update Tscl. Based on the latest consumer price data released aug. The social security cost of living adjustment (cola) for 2024 will likely be 3.2% based on a jump in consumer price data through august.
The cola raise was 5.9% in 2022 and 1.3% in 2021. Social security recipients received a 3.2% cola in 2024, a significant decrease from the 8.7% cola in 2023, which was the largest increase in four decades.