How Much Will Social Security Increase 2024
The 2024 cola adjustment raises the total average benefit to $1,907 per month for individual retirees and to $3,033 per month for couples. The social security administration announced that beneficiaries will receive a 3.2% raise starting in january 2024.
Increased payments to approximately 7.5 million ssi recipients will begin on december 29, 2023. Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning.