2024 Social Security Increase News

2024 Social Security Increase News. A cola of 3.5% would raise the average social security retirement benefit by $62.73 a month, based on the latest social security administration data. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024.

If social security increases the cola by 3.2% next year, the average monthly retiree check would increase to $1,790, or $57.30 in additional benefits, the. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024.