2024 Social Security Increase Letter. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024. On average, social security retirement benefits will increase by about $50 per month starting in january.
The increase will begin with benefits that social security beneficiaries receive in january 2025. This is well above the $1,920 average benefit that retirees got in august 2024, an amount which is expected to rise to $1,968 after the social security administration applies the.
