Social Security Cost Of Living Increase 2024. In june 2024, the average monthly social security benefit for retired workers was $1,918. 12 rows average wage index.

More than 71 million americans will see a 3.2% increase to their social security and supplemental security income benefits in 2024, the social security. The social security increase last year was 3.2%, down from 8.7% in 2023 — the highest such raise in 40 years.