2024 Cola Prediction Social Security Benefits

2024 Cola Prediction Social Security Benefits. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi). For additional context, an individual needs at least $15,060 of income to live above the poverty line.

The average social security benefit is about $1,700 a month, according to the ssa. That’s a huge drop from this year’s 8.7% cola, which pushed the average monthly.