Social Security Increase 2024 Update. Washington (ap) — millions of social security recipients will get a 3.2% increase in their benefits in 2024, far less than this year’s historic boost and reflecting. Social security benefits are on pace for a 3% cola in 2024.
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. In january 2024, payments rose by 3.2% over 2023, according.