Social Security Increase 2024 $600 2024 Increase. Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024.

In 2024, the annual increase to social security benefits (cola) will be 3.2%. This adjustment will affect social security retirement, disability, and ssi payments.