How Much Will Social Security Increase 2024. On average, social security retirement benefits will increase by more than $50 per month starting in january. 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.

That equates to an average monthly rise of about $55 for all. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024.