Ssa Cost Of Living Increase 2024 Increase

Ssa Cost Of Living Increase 2024 Increase. The aarp estimated that increase at $59 per month. Data from the ssa shows that the average social security benefit in august 2023 was $1,705.79.

Since 1975, social security’s general benefit increases have been based on increases in the cost of living, as measured by the consumer price index. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024.