Cost Of Living 2024 Social Security Increase Schedule

Cost Of Living 2024 Social Security Increase Schedule

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. The social security administration announced its annual cost of living adjustment for 2024.

The amount of earnings taxed to fund social security is increasing. Social security benefits will increase by 3.2 percent beginning with the december 2023.