Cola 2024 Ssa. Increased payments to approximately 7.5 million ssi recipients will begin on december 29, 2023. The monthly maximum federal amounts for 2024 are $943 for an eligible individual, $1,415 for an eligible individual with an eligible spouse, and $472 for an essential person.
Since the federal reserve appears to have made progress on the inflation front this year, projections suggest. The social security administration’s annual cost of living adjustment for 2024 is 3.2%, reflecting a more moderate rate of inflation than the price jumps that necessitated last year’s 8.7%.