The U.S. Social Security Administration lifted its cost-of-living adjustment for 2024 by 3.2%, the smallest increase since 2020.
The U.S. Social Security Administration slashed its cost-of-living adjustment for 2024 Thursday, reflecting the sharp pullback in overall inflation,a 3.2% increase in the cost-of-living for benefits beginning in January
That 2024 increase would mark the smallest pensioner boost since the pandemic, and comes in firmly shy of the 8.7% increase, which was the largest since 1981, implemented last year. "We know older Americans are still feeling the sting when they buy groceries and gas, making every dollar important. Social Security has been the foundation for financial security for hundreds of millions of people in our nation - and today's announcement shows that it's continuing to deliver on this promise," she added.
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Senior citizens will see a much smaller Social Security boost for 2024Social Security recipients will receive an annual cost-of-living adjustment of 3.2% for 2024, a much smaller increase than the inflation-fueled boosts of the past two years.
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Senior citizens will see a much smaller Social Security boost for 2024Millions of Social Security recipients will get a 3.2% increase in their benefits in 2024, far less than this year's historic boost.
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Social Security Benefits Expected to Rise 3.2% in 2024The government on Thursday announces how much checks rise next year for the roughly 67 million Social Security recipients.
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COLA Social Security Benefits Expected to Rise 3.2% in 2024The government on Thursday announces how much checks rise next year for the roughly 67 million Social Security recipients.
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COLA Social Security Benefits Expected to Rise 3.2% in 2024The government on Thursday announces how much checks rise next year for the roughly 67 million Social Security recipients.
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