Cost Of Living Increase 2024 Social Security Increase. If social security benefits don't increase, retirees would lose purchasing power to inflation (rising. Since 1975, the social security administration has adjusted social security payments on an annual basis to ensure benefits keep pace with inflation.

The increase in benefits is designed to help beneficiaries keep up with. Since 1975, the social security administration has adjusted social security payments on an annual basis to ensure benefits keep pace with inflation.