Cola Increase 2024 Ssi Increase. A 3 percent adjustment would boost the average social security retirement benefit — $1,839 a month in july 2023 — by about $55 a month in 2024. Here's how much more money you will start getting in january.

“social security and ssi benefits will increase in 2024, and this will help millions of people keep up with expenses,” said kilolo kijakazi, acting commissioner of social security. A 3 percent adjustment would boost the average social security retirement benefit — $1,839 a month in july 2023 — by about $55 a month in 2024.