Social Security Cola 2024 Estimated Salary. The latest cola is 3.2 percent for social security benefits and ssi payments. Thus, an individual with wages equal to or larger than $168,600 would contribute $10,453.20 to the oasdi program in 2024, and his or her employer would contribute the same amount.

 — a 2.5 percent increase would raise the average social security payment for retired workers from $1,920.48 (as of august 2024) to $1,968.49 in 2025, an increase of. Social security benefits will increase by 3.2 percent beginning with the december 2023.