How Much Is The Social Security Raise In 2024. The social security administration announced that beneficiaries will receive a 3.2% raise starting in january 2024. The group then increased that number to 2.6%.
Any retirees who receive that will get an additional $145 per month next year, meaning their monthly payout will increase to $4,700 in 2024. The senior citizens league said wednesday that the social security cost of living adjustment, or cola, will likely be 3.2% for 2024.