How Much Increase For Social Security 2024. Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning. A 2.5 percent cola would increase the average benefit for a retired worker — about $1,920 a month in august 2024 — by $48 a month starting in january 2025.

That increase, which adds an more than $50 a month on. How much will my social security payment be with the 2024 cola increase?