Social Security Increase 2024 Increase Chart. How the cola is applied to social security retirement benefits; A 3.2% increase in the average social security check—about $1,706 in august 2023, the latest data available—would raise that monthly payment to $1,761, a.

The average monthly retirement benefit will increase from $1,848 to $1,907, and the average benefit. Social security benefits increased 3.2% in january 2024.