Social Security 2024 Increase Announcement Synonym. Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning. The nation's 72 million social security beneficiaries will get a raise starting in 2024 to keep their benefits aligned with inflation.

That took the average monthly benefit of $1,848 at the end of 2023 up to $1,907 at the start of 2024. That adds about $50 monthly to the average retirement.