Social Security 2024 Increase Announcement Icon. Social security benefits will increase by 3.2% in 2024 (compared to last year's 8.7% increase.) the average benefit will rise by more than $50 per month. Social security benefits will see a cola increase of 3.2% in 2024, the social security administration announced thursday morning.
More than 71 million americans will see a 3.2% increase to their social security and supplemental security income benefits in 2024, the social security. The acting social security commissioner says a 3.2% increase in benefits next year “will help millions of people keep up with expenses. the increase announced.