2024 Cola Increase For Social Security Recipients. 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. Because they can affect premiums, “the rising costs of alzheimer's drugs covered by medicare may also play a role in determining the final benefit amount for.
The social security administration announced on october 12, 2023, that benefits will increase by 3.2% 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.