Cost Of Living 2024 Payment Increase. Household bills, groceries, mortgages and rents have all hit record highs, as the country navigates the ongoing cost of living crisis. Everything you need to know about universal credit, benefits, cost of living payments, and the household support fund after 2024 the spring budget.

The annual increases are called cost of living adjustments, or. Starting in january, social security benefit payments for 66 million beneficiaries will rise 3.2% to keep up with the cost of living, the social security administration said thursday.