Ssi Payments 2024 Amount Increase. Ssi benefits increased in 2024 because there was an increase in the consumer price index from the third quarter of 2022 to the third quarter of 2023. The ssi and ssdi expansion act 2024 proposes a $200 monthly increase for social security beneficiaries and a 3.2% cola adjustment.

Social security benefits will increase by 2.5 percent beginning with the december 2024 benefits, which are payable in january 2025. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024.