Social Security Administration 2024 Raise. No matter what 2024's social security cola ends up being, seniors should be aware that a hike in medicare part b premiums has the potential to whittle that raise down. On average, social security retirement benefits will increase by more than $50 per.

Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024, the social security administration announced. That equates to an average monthly rise of about $55 for all.