Social Security Increase 2024 Estimate News. On average, social security retirement benefits will increase by more than $50 per month starting in. 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.

Social security administration policy updates that expand access to. In 2023, the social security administration indicated the cola would increase by 3.2% in 2024.