Social Security Cola 2024 Effective Date Calculator. The latest cola is 2.5 percent for social security benefits and ssi payments. It updates the 2024.1 version by updating the projected benefit increases and average wage.

If you started claiming social security before may 1997 or if get both social security and ssi benefits, you’ll get the new cola in a dec. But fers retirees will receive a 2% “diet” cola.