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2024 Social Security Increase Estimated Amount. Over 66 million people received social security checks in january 2024, where the monthly average payment estimated by the social security administration. A 3.2% cola for 2024 would increase an average monthly retiree benefit of $1,790 by $57.30, the tscl said.
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 latest cola is 3.2 percent for social security benefits and ssi payments.
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