Cola Increase 2024 Projections Opm. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024. For the year 2024, annuitants who retired under csrs will receive 3.2 percent increase and those who retired under fers will receive a 2.2 percent increase.

That would be the lowest cola since 2021. Inflation at 4% and next cola projection going down.