Social Security Increase 2024 Update Date. Social security benefits increased 3.2% in january 2024. Social security beneficiaries will see a 3.2% boost to their benefits in 2024, the social security administration announced on thursday.
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. The social security administration said the increased payments with the 2024 cola for supplemental security income (ssi) recipients began december 29,.