Social Security’s 2024 COLA Increase: Here’s What to Know to Stay Scam-Free

Starting in January, millions of Social Security and SSI recipients will see a 2.5% Cost-of-Living Adjustment (COLA) automatically applied to their payments.

While this boost helps offset inflation, it also attracts scammers looking to exploit beneficiaries. Here's how to stay safe.
 

Key Points on Receiving the Increase

• Automatic Process: You don’t need to take any action. The COLA increase will be applied directly to your bank deposit or mailed check.
• No Extra Verification Required: Any request to “confirm” personal information, like your Social Security number or bank details, is a scam.

 

Recognize and Avoid Common Scams

Scammers often impersonate SSA officials and may:

• Threaten or pressure you to provide personal information, claiming your benefits are at risk.
• Request payment through gift cards, prepaid cards, or money transfers—SSA will never do this.
• Send fake texts or emails with attachments or links claiming you need to update your information.

Don't miss: Your November Social Security Payment Schedule: Double SSI Checks and What to Know for December
 

Protecting Your Benefits

• Ignore Unsolicited Requests: SSA will not call, text, or email for verification unless you’ve recently contacted them.
• Report Scams: If you suspect a scam, report it to the SSA’s Office of the Inspector General here.

Staying informed and cautious will help ensure you receive your COLA increase securely.

Protect your personal information, and only trust official SSA communications.

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