Employer Cost Of Living Increase 2024. A cola changes benefits based on changes in consumer prices. Employers plan to raise compensation budgets in 2024 by 3.5% for merit increases and 3.9% for total.

For all recipients — including spouses, children and disabled workers —. Due to inflation, the cola is rising this year, so the 66 million social security beneficiaries will see a higher benefit starting in january of next year.