Kinna Merrili

2024 Social Security Increase Letters Pdf. Those limits change from year to year, but in 2024, the base limit is $22,320, up from $21,240 in 2023. That took the average monthly benefit of $1,848 at the end of 2023 up to $1,907 at the start of 2024.

The more than 71 million people who receive social security benefits still will enjoy a moderate cola or cost of living adjustment starting in january, but it will be lower than the cola for 2023. During 2020, the inflation adjustment for social security benefits was 1.6%.