How Much Will Social Security Increase 2024 Calculator. 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. Our calculator estimates your monthly social security disability insurance (ssdi) benefits amount based on the earnings you report to us — but without your wage.
The latest cola is 3.2 percent for social security benefits and ssi payments. In 2023, the social security administration indicated the cola would increase by 3.2% in 2024.