The Cost-of-Living Adjustment (COLA) increase for 2024 should have brought a welcome financial boost to millions of Social Security beneficiaries. However, some recipients haven’t received their official notification yet, leaving them confused and concerned. While it’s natural to worry, understanding the situation and taking proactive steps can ease your mind and ensure you receive your deserved benefits.
The Social Security Administration (SSA) meticulously calculates individual Social Security benefits, ensuring each recipient receives their accurate adjusted benefit amount. But still, you’ve got to get a notice in your postal mail or email.
How Much Is the 2024 Social Security COLA Increase?
Social Security recipients can expect a welcome enhancement to their benefits in 2024, with the announcement of a 3.2% COLA increase. This annual adjustment reflects the rising cost of living and applies to retirement benefits, as well as survivors’ and disability benefits, including Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI).
Notifications were set to arrive promptly, with online accessibility for those who utilize the convenient mySocialSecurity account feature. The message center within this platform will display the updated benefit amount. For those who prefer traditional communication methods, the SSA will reliably deliver written notification via postal mail.
Actions Available in Case You Haven’t Been Notified Yet
Here’s what you should do if you haven’t received your official COLA 2024 notice by the end of January. First, wait until the month of February, before contacting them about missing notices. This allows enough time for any potential delivery delays to be resolved.
Check your mySocialSecurity account: If you opted for online notifications, log in to your account at https://www.ssa.gov/myaccount/: https://www.ssa.gov/myaccount/. Your COLA notice should be available in the Message Center.
Check if you received any other mail from the SSA around December or January. They may have sent a general notification about the COLA increase, even if your individual notice is delayed. If necessary, update your mailing address to the SSA.
If you haven’t received any notification by the end of February, contact the SSA at 1-800-772-1213. Explain your situation, and they will help you track down your notice.
Maximum Social Security Payments in 2024
The average payments for all retired workers are expected to increase to approximately $1,907. For senior couples both receiving benefits, the average combined payouts will rise to $3,033.
Notably, surviving spouses with two children will see an increase from $3,540 to $3,653, single elderly surviving spouses from $1,718 to $1,773, and workers with disabilities, along with their spouses and children, from $2,636 to $2,720. Likewise, all workers with disabilities will experience an increase from $1,489 to $1,537.