2024 Social Security Increase Projection Pdf. The roughly 70 million americans who receive social security will see another significant increase to their benefits next year: 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 moderating.

The average benefit amount among retired workers is around $1,919 per month, according to july 2024 data from the social security administration. The increase of 3.2% is designed to provide benefit recipients with a cola commensurate with overall inflation.