Social Security Increase 2024 Update Today. In 2023, the wage cap was $160,200, and it rose. More than 71 million americans receiving social security benefits will see their checks rise by 3.2 percent next year to help them keep pace with inflation, the social security.
More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024. In 2025, the social security cola may be 2.6%, according to mary johnson, an independent social security and medicare policy analyst.
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