cola

Here is when the Social Security Administration will announce the cost-of-living adjustment for payments next year.

A group estimated that Social Security recipients will see higher payments in 2024 as the yearly cost-of-living adjustment will be announced in October.

The 2024 cost-of-living adjustment (COLA) increase for Social Security recipients is likely to be a fraction of what it was in 2023 and a disappointment to many seniors, according to a nonpartisan seniors group, which found that some 8 in 10 retirees report they’re still reeling from inflation.