Social Security 2024 Increase Announcement Synonym. 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 prices. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024.

In 2024, the consumer price index will be taken into account when ssa payments are made. In accordance with government laws, these are based on direct deposits.