Social Security Increase 2024 Announcement Date. 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 says that will raise average monthly payments by more than.

Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024. Analysts estimate that the maximum.