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2024 Social Security Cola Increase Calculator 2024. The social security cola for 2023 was 8.7%. With the ssa announcing an 3.2 percent cola, many are wondering how to calculate their new benefit amount.

Once that information comes in, the social security administration (ssa) will be able to calculate a cola for 2024. With the ssa announcing an 3.2 percent cola, many are wondering how to calculate their new benefit amount.