Ss Cost Of Living Increase 2024 Increase. Social security beneficiaries will see a 3.2% boost to their benefits in 2024, the social security administration announced on thursday. Starting in january, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 — from $1,848 to $1,907.

That equates to an average monthly rise of about $55 for all. • 90% of the first $1,174 = $1,056.60 • 32% of the amount between $1,174 and $6,000 = $1,544.32