Social Security Increase 2024 Announcement Date. That adds about $50 monthly to the average retirement benefit consumers will. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024, the social security administration announced.

That adds about $50 monthly to the average retirement benefit consumers will. The inflation gauge used by the social security administration (ssa) to set the annual cola rose at a 2.6 percent annual rate for july and 3.4 percent for august — the first.