2024 Social Security Increase 2024
2024 Social Security Increase 2024. Increased payments to nearly 7.5 million people receiving ssi will begin on december 31, 2024. If you will reach fra in 2024, social security withholds $1 in benefits for every $3 in earnings above $59,520 (up from $56,520 in 2023) until the month when you hit the milestone.
The cola was 3.2 percent in 2024. Social security beneficiaries will see a lower increase to their monthly benefits in 2024 following a record increase this year.