2024 Social Security Increase Estimate Calculator. Social security benefits for millions of people will rise by an average of over $50 a month starting in january, thanks to the social security administration's 3.2% annual cost of. More than 66 million retirees receiving social security checks will see their monthly government payments rise 3.2%, thanks to the social security administration's cost.

The social security administration also makes annual cost of living adjustments, even as you collect benefits. You just need to input the following information: