Social Security Increase 2024 Announcement News. Social security and supplemental security income (ssi) benefits for approximately 70 million americans will increase 3.2% starting in january 2024. On average, social security retirement benefits will increase by more.

Millions of social security recipients will get a 3.2% increase in their benefits in 2024, far less than this year’s historic boost and reflecting moderating consumer prices. Federal ssi payment levels will also increase by 2.5.