Social Security Benefits Increase in 2024
Reading Time: 2 MinutesLast Updated: November 1, 2023
More than 71 million Americans will see a 3.2% increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2024. On average, Social Security retirement benefits will increase by more than $50 per month starting in January.
Federal benefit rates increase when the cost-of-living rises, as measured by the Department of Labor’s Consumer Price Index (CPI-W). The CPI-W rises when inflation increases, leading to a higher cost-of-living. This change means prices for goods and services, on average, are higher. The cost-of-living adjustment (COLA) helps to offset these costs.
We will mail COLA notices throughout the month of December to retirement, survivors, and disability beneficiaries, SSI recipients, and representative payees. But if you want to know your new benefit amount sooner, you can securely obtain your Social Security COLA notice online using the Message Center in your personal account. You can access this information in early December, prior to receiving the mailed notice. Benefit amounts will not be available before December. Since you will receive the COLA notice online or in the mail, you don’t need to contact us to get your new benefit amount.
If you prefer to access your COLA notice online and not receive the mailed notice, you can log in to your personal my Social Security account to opt out by changing your preferences in the Message Center. You can update your preferences to opt out of the mailed COLA notice, and any other notices that are available online. Did you know you can receive a text or email alert when there is a new message waiting for you? That way, you always know when we have something important for you – like your COLA notice. If you don’t have an account yet, you must create one by November 14, 2023, to receive the 2024 COLA notice online.
“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.
January 2024 marks when other changes will happen based on the increase in the national average wage index. For example, the maximum amount of earnings subject to Social Security payroll tax in 2024 will be higher. The retirement earnings test exempt amount will also change in 2024.
Be among the first to know! Sign up for or log in to your personal my Social Security account today. Choose email or text under “Message Center Preferences” to receive courtesy notifications.
You can find more information about the 2024 COLA here.
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Tags: COLA, my Social Security, my Social Security account
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Sue
I’m taking my satchel to Ukraine to beg Zelenskyy for some kickback cash. You know, like all the crooked paid off politicians do. How they live with themselves is beyond me. Crooks. Cheats. Liars.
george h.
we have the finest politicians that money can buy.And it can buy all of them
Angela Z.
Yip! Last year’s ‘big” COLA increase to my monthly SSI benefit , ended up coming back around & biting me in the butt!!! Get THIS, the amount of the rental assistance I was receiving went DOWN by about $10., the Utility Allowance I was getting increased by $20 & SNAP benefits went DOWN (actually by a good bit!) to $16 so, when the dust settled, I had about $5 LESS in my monthly budget than even BEFORE. SO,the initial excitement & joy of all that was, well, doomed from the start & so short lived that I don’t even get a month to FOOL MY OWN SELF about what would otherwise been something to TOOT over. NOPE, UNFORTUNATELY I’m just stuck here at home.with a really bad case of GAS! (So, guess it’s just as well there’s nothing extra to spend going out somewhere anyways!)
Tamara
All of the people in power (Congress) who run our country and make the decisions (taxes, SSI benefits, etc) are billionaires. They do not care. They get healthcare and benefits for life, also. Get used to it- they are greedy and out of touch.
george h.
joe is biden his time
Billie M.
I agree we all worked for many years to receive our social security and it is so sad only 3.2% increase and food and gas has doubled. It hurts when the government sends billions of dollars overseas to other countries to help them and they are not even citizens here. I believe incharity but charity should begin at home.
Stacey S.
Is this a legit email from SSA?
Why You Need to File Your W-2s Electronically
Beginning January 2024, the Internal Revenue Service (IRS) has issued final regulations to reduce the 250 paper return threshold to 10 informational returns in a calendar year.
What this means for you:
If you file 10 or more informational returns (such as Forms W-2 or 1099), you must file them electronically unless the IRS grants a waiver or exemption.
Are there any actions I can take now?
Don’t wait! Register today!
Allow at least 2 weeks to complete the registration process, so register today and be well ahead of the January filing deadline.
To register, you must start at the BSO Welcome page. From the “Employers” box select the ‘Create account’ link to verify your identity with one of our credential providers. You will be sent back to the BSO page to complete the registration process.
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A.C.
Hi, Stacey. Thanks for checking in. This email is legitimate. The Social Security Administration is committed to keeping the public informed about Social Security programs and the services we offer. Our goal is to provide helpful information to as many people as possible. We hope this helps.
Roy
Not enough to cook a meal from
Anthony
I am dismayed by the low ( COLA) of 3.2% increase. By the time our puppy or puppy+ raises the cost we pay as well as the raise of housing costs. We retirees or disabled actually loose out the most. The cost of living has nearly doubled in the last 3 years and our income has barely been increased to meet that cost of living. Even unemployment seen 2400 a month for a time while we seen an average of $78.00. Hundreds of Billions of dollars being sent to other countries while our country lets the elderly and or disabled suffer the effects of cost of living.
Linaa
And then they wonder why people live crazy life’s some have no choice to serve cause they don’t give us a chance to live shit makes no sense that there other places
Jannice R.
Agree 100%
Gloria l.
For sure amen I live off 843.00 a month and it’d impossible
celeste m.
I am 73 yrs I live in Gov. Housing for senior citizens. Everytime we get a raise they raise our rent. The gov gives and gov takes
Christopher h.
💯
That’s so true and they literally say you report your new income or they’ll report fraud it’s a 50 dollar increase but your rent doubles and if you receive food benefits the drop by at 100 dollars really I mean really I know that the average person is invisible but aren’t you even paying attention to the numbers
Ask yourself why crime is so high
Selling drugs puts more food on the table than the government will offer assistance imagine your grandma or grandpa having to hustle just to get their meds
Grace P.
Didn’t get the measly nine dollars said would come Oct19th. now 25th. On top of that the amount coming to me according to your paperwork given me is amount dated March 2020! As of Oct 2023 I should be getting $1,690.20! Im still only getting $1,272.00! Im retired and I cant even buy groceries with that. On top Im caring for injured sister! Send me corrected amount and what you back owe me!
This isn’t a gift this is my money I slaved for!
A.C.
Hi, Grace. We are sorry to hear about your situation. For your security, we do not have access to private information in this venue. We ask that members in our Blog community work with our offices with specific concerns. You can call us at 1-800-772-1213, Monday through Friday, between 8:00 a.m. and 7:00 p.m., for assistance. You can also contact your local Social Security office. We hope this helps.
Linaa
RIGHT GIVE HER THE MONEY SHE OWED STOP PLAYING WITH PEOPLE LIFE
Lee B.
I am very disappointed that the government is so disfunction that they think a 3.2 increase for us will make it easier for us to live. The increase doesn’t come close to off set the inflation that we going thru at the same time you have the you nerve to increase medcare about $ 10.00 and you believe we would be happy with this silly increase. We can’t pay foe all the increases.
Linaa
RIGHT we can’t even pay for housing without having two incomes or roommates because of the rent being so high and minimum-wage being so fucking low
David
Yes, 3.2% raise will pay for an ice cream cone. Thank you so much. Isn’t it funny the politicians can give $2,200 to illegals along with food, housing, medical, and continue to kick us in the teeth. All of them make me sick.
Linaa
FrFr me too shit crazy they don’t give a flying fuck about us American
Patricia B.
They give money to illegals, they give money to countries that try to kill us, they spend money like it’s going out of style, they give money to everybody around the world but they won’t take care of the people in the United States that have worked hard to make the money. Can’t even buy a tank of gas with what they’re trying to give you. It cost so much more to live today but you can bet the politicians are giving their selves raises and they don’t even bat an eye. They could not live on what we live on. Every day the mail comes in and people are wanting money for this money for that. If you get a raise for Social Security and you get food stamps then they cut your food stamps if you get a raise in Social Security they raise your Medicare insurance. How is that supposed to help the cost of living? It’s so depressing just trying to make ends meet and you can forget doing anything for fun.