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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Tori
We need to get rid of Biden and Harris,we need strength, not an apeaser and a weakling.The social Security raise should be more 3.2% Inflation is still sky high and food prices as are still going up!!!!!!!
We need to vote Republican because of all the socialist in the Democratic party PERIOD!!!!!!
Ellie
There is no way I would vote Republican can you imagine the trouble we would be in if Trump gets back in he would sell out his own wife if he had to
We don’t need Biden either
ldw
We definitely need Trump if he is the republican nominee!!! Get rid of all the leading democrate and especially AOC and Talibi!!
Nana
True and we need to clear the board and just select somebody completely different
MagaGirl
Mitch McConnell has to go as well. There are plenty of Rino’s on the list along with Jeffries, AOC, Talibi, Schumer, Schiff … oh man I could go on and on … Not to mention Newsome, Murphy, Hobbs, Whitmer and Hochul. Should I go into the DA’s that need to go? 😆
RJ
who do you think has a backbone in the government? Trump did put an end to many things, illegals, shut down Russia, NK, China. You may not like his demeanor, but he is a fighter and fights for the country, unlike most in DC. You all may not remember, but there was a politician Marion Berry, got thrown in jail for drugs and then came out and won again, now you tell me what is wrong with this, please!
MagaGirl
What exactly is your issue with Trump? I’m curious? So he isn’t delicate with what he says? So what. He speaks truth. The democrats are so afraid of him they are making up charges to put him in jail … When the real criminal sits in the white house. So again, what is your complaint? Let us hear it.
Telly W.
Quite frankly, why would anyone vote for a fraudster, someone who has committed SA, and/or someone who appears to have committed campaign fund fraud? All that begets the questioning of what everyone is thinking will happen if that person is elected. What are the campaign promises that were kept in the past, and how does that speak toward any future promises?
RJ
I am not sure if we will ever, if not for a long time, have elections that are not full of fraud. It’s a scary thought.
Mike T.
The fraud is the corrupt Biden crime family taking bribes from China, Ukraine, Russia, etc. get your facts straight and please open your eyes. Quite voting with your emotions and learn the issues and facts that count for our kids and grandchildren!!
Tuck
Yeah, vote for the Anti-American, Anti-Democracy, Pro-Authoritarian Republican party.
Geez…
Sharon H.
You are kidding right? If not you are definitely misinformed.
Devils A.
Actually, What if you were the one who was misinformed?
Bob V.
The biggest scam in my opinion is the WIP for teachers and other school workers who have worked in the private sector but must be penalized on their SS checks because of not paying taxes on State income.
Ann
I don’t understand he government. They know over half of have to choose either food or medication. Why . Us seniors that have worked to retire should automatically get food stamps allowance so we don’t have to worry about food or medication. Why can’t you big shot government people help us more . This really upsets me when I see young people that can work but won’t so they steal and get food stamps.
Mary
Your so true. Also the young ones get more than they need in food stamps. They then turn around and sell them.
Larry
Amen
My little 418 dollars doesn’t go far granted I took an early retirement by 2 years thinking I might die before seeing anything I had to go back to work after 6 months and guess I’m going to have to work until my death. A little bit extra would be nice to help out but it’s never enough my little raise is typically 3 dollars. Thank God for giving me anything.
Cindy R.
Ya know.. at least for today I’m grateful I hope I can stay that way
Frank C.
I’m tired of all my SS going out to illegals entering this country without working a damn hour in our country. This is all Joe’s fault. All monies including bank accounts should be taken from him and his family and given to the SS fund.
Eric
spoken like a true ignorant trumpster. No SS funds go to anyone who hasn’t paid into the system.
Sydney
But the illegals are getting phones, free place to live, free food and money. They don’t do any of that for veterans, oh that’s right… homeless vets get thrown out of homeless shelters to make room for the illegals. Hey Eric, are you willing to take in some of these illegals into your own home???
CS
Yes we just invite them into our country, give them $900 upon entry, pay to house them when we can’t even house our own citizens. Ignorance has caused the great “liberal” cities like Seattle and San Francisco to beg for another $5 billion to keep them from being homeless while they can’t even house their own citizens. Sad, and truly ignorant. They want to prove what great stewards of the people they are and yet the homeless rates for their own citizens has nearly doubled in the last few years. Take a trip to downtown San Francisco or Los Angeles or Denver for that matter and see how their attempts to save the world have failed.
Brenda B.
No illegal immigrants receive ss. Pls check out the facts
Not your opinion. Been to SF and the homeless are white males that don’t want to work. Many veterans who are having mental trouble from wars we should never get into. Pls check the facts.
Tuck
True – there are a lot of myths circulating here.
Debbie M.
Well said Sydney and that is absolutely the truth.
Leslie
Anyone calling names like Trumpster is completely ignorant and really mean. She had a right to have an opinion. The difference is your opinion was not on the subject matter and was only an insult about a stupid guess you made for this woman’s opinion. Grow up.
Should we call you a name and assume your political leanings? No because most of us are adults.
Larry
You’re a moron Erictheidiot. You give-away-money liberals are ruining this country with all your stupid freebee programs.
george h.
spoken like a true braindead joe blower
Sal. A.
Ok so you say the illegals coming across the border don’t get social security because they don’t pay into it, then its still ok form them to get taxpayer welfare. hummmm
John
Hate to tell you, but yes, the great government is giving them money and food stamps and cell phones.
Ani
🤣 bro u have to have a social security to get it 🤦🏻♀️ some gringos ahí pendejo…
Telly W.
Okay, I hear a lot of complaints, but no proposed solutions. Much of what is being complained about is not, in reality, factual.
Chris
$29, twenty nine damn dollars. What am I supposed to do with that? From $914 to $943. This is ridiculous, they know we can’t afford to pay bills and buy food. My foodstamps are gone in two weeks so I have to buy food. I can’t buy food because I have to pay bills. I have about $300 going out that DHS won’t count. I can’t work, I don’t have a car and if I did I couldn’t afford to drive it. Between the pain and the money I’m about to call it quits. I can’t do this anymore.
Gerry G.
I want to stop giving all our monies to wars and to people who do not appreciate us. Our country is going to hell. Thanks to all who cross borders without permission and others who come illegally. Fix your government before trying to fix America. Hey go to England, Asia, France, Canada, so many places you can go to. You can go all way to bum Egypt. I’m going to get $29.00 increase, and they Additional billions.
Jessica
Amen! I am an adult foster care provider for the mentally ill and developmentally disabled and they only pay me $33/day to take care of the for room and board! Now THAT is horrific!
Peter E.
Get a job!
Bonnie
Get a life, leave people alone
Janice R.
Mine went up $8 dollars.
Deleta
Chris, I realize how fast your money goes in the grocery store. Find a food pantry in your area. They are a life saver. Most food pantries allow you to go monthly. The food pantry that I run allows every other week. Nobody wants to see people hungry.
Paul F.
Once again, the cost of living in America has risen well beyond Social Security’s annual COLA increase. We involuntarily paid into this program for our entire working lives and Uncle Sam is shortng the citizens again so money can be sent to pet projects and foreign countries.
Les
Amen brother I’m with you all the way.
Geraldine M.
The way I see it , it’s our money we worked for , why they think they can determine to add or take away for yrs we worked , governments doesn’t mind paying them selfs what they want to take away from us our money . We should receive every thing we are in total too, it’s a joke they don’t have to suffer struggle for what we pay them , they want to take away from us we of a early retirement , they wouldn’t get paid if we the people didn’t work .
mike m.
stop taxing Social Security…or at least raise the amount you make before you tax Social Security
Shep
Yes I’m retired and drive forklift 40 a week 25 off the top after 21 k what a scam.
george h.
politics poly meaning many ticks meaning bloodsuckers