How Much Raise Will Social Security Get 2024. In 2023, the social security administration indicated the cola would increase by 3.2% in 2024. Estimates suggest a raise of 3% to.

Retirees and other beneficiaries will see their monthly payments rise by $59 on average starting from january 2024. Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning.