What Is The Social Security Increase For 2024. Starting this month, retired americans are set to earn up to $4,873 in social security payments due to annual cost of living adjustments. In january 2024, payments rose by 3.2% over 2023, according to the social security administration.

More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024. In 2024, the annual increase to social security benefits (cola) will be 3.2%.