What Is The New Cola Increase For 2024. The average social security benefit for retired workers was $1,920 in september 2024. In 2023, social security and supplemental security income (ssi) recipients saw an 8.7%.
Millions of social security recipients will get a 3.2% increase in their benefits in 2024, far less than this year’s historic boost and reflecting moderating consumer. At this point, 2024 cola estimates are generally coming in within the 3% to 3.5% range.
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