Social Security Cola Increase 2024 Amount. The monthly maximum federal amounts for 2024 are $943 for an eligible individual, $1,415 for an. 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.

As a result, benefits will rise by 3.2 percent starting in 2024. The cola increase means your ssdi, ssi, or social security retirement benefits will be 3.2% higher in 2024.