Social Security Increase 2024 Estimate Chart. For instance, if a beneficiary receives $2,000 monthly in 2024, a 2.5% cola in 2025 would result in an increase of $50, raising the monthly benefit to $2,050. Lawmakers are considering the repeal of social security’s windfall elimination provision (wep) and government pension offset (gpo).
With the increase, the average benefit check will increase $49, rising to $1,907 from this year’s $1,858, the agency said. The social security administration cannot finalize the 2024 cola without september inflation data, which is scheduled for release on.
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