Social Security’s 2024 COLA Increase: Here’s What to Know to Stay Scam-Free
- Author: Sadie Krajcik
- Posted: 2024-11-14
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.
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.
Previous article: Unlock These 4 Hidden Costco Perks to Make the Most of Your Membership
-
Stay in the loop with the latest benefits resources!
At BrowseResources.com, we take pride in bringing you the most fresh and updated articles for you and your family.
