No, Social Security’s 2024 COLA is not as high as it was in 2023

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No, Social Security’s 2024 COLA is not as high as it was in 2023
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Social Security payments will increase in 2024 due to an annual cost-of-living adjustment. Here’s what that means for recipients.provides people with an income when they retire or can’t work due to disability. Those who are retired can typically start receiving their Social Security benefits as early as age 62. Several VERIFY readers have asked whether the 2024 COLA will be as high as it was the year before.

The lower COLA for 2024 is because inflation skyrocketed in 2022 but has started to normalize again in 2023.

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