Social Security Increase 2024 News Update. Supplemental security income benefits have not been updated in years. Anyone who is a current social security recipient or who will turn 62 in 2023 — the earliest age at which an individual can claim social security — would receive an extra $200.

Social security cola rates are expected to rise even more in 2024 after the latest august cpi data was released. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024, the social security administration announced.