Andree Atalanta

Social Security For 2024 Increase. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024. Inflation cooled considerably in 2023, but consumer prices still went up, producing a 3.2 percent cola for social security beneficiaries.

A 3 percent adjustment would boost the average social security retirement benefit — $1,839 a month in july 2023 — by about $55 a month in 2024. Alicia munnell, director of the center for retirement research at boston college;