Cost Of Living Increase 2024 Social Security Calculator. Beginning in january, benefits will increase by 3.2%, or roughly $58 a month for the average. Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct.

Social security benefits will increase by 3.2 percent beginning with the december 2023. The social security administration announced its annual cost of living adjustment for 2024.