Social Security 2024 Increase For Over 65. The roughly 70 million americans who receive social security will see another significant increase to their benefits next year: That comes out to $58,476 per year.
Inflation cooled considerably in 2023, but consumer prices still went up, producing a 3.2 percent cola for social. 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.