Social Security Increase 2024 2024 Dollars. The average benefit for all retired workers will be $1,907 in 2024, up from $1,848 in 2023, according to the social security administration. 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.

Washington (ap) — 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. The new cola will take effect in january 2024, and the average retired worker will see his or her benefit amount increase from $1,848 per month to $1,907 per.