Cost Of Living Increase 2024 Social Security In India. Starting in january, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 — from $1,848 to $1,907. Social security and ssi beneficiaries will receive a total increase of 3.2% in 2024.

With the increase, the average benefit check will increase $49, rising to $1,907 from this year’s $1,858, the agency said. How does the cola compare to prior years?