Are Social Security Benefits Going Up In 2024. A benefit increase is only one change retirees will see in 2024. A 3 percent adjustment would boost the average social security retirement benefit — $1,839 a month in july 2023 — by about $55 a month in 2024.

To receive the highest social security payout, you must retire at 70 and have at least 35 working years, earning at least the maximum income amount for the. This is an automatic update and you don’t need to do anything to.