Cost Of Living 2024 Social Security Increase. The nation's 72 million social security beneficiaries will get a raise starting in 2024 to keep their benefits aligned with inflation. Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct.
The annual increase in the consumer price index for urban wage earners and clerical workers. On average, social security retirement benefits will increase by more than $50 per month starting in january.